POS Terminal on cashier desk

Point of Sale System

A POS or Point of Sale system is essentially a system that calculates and eases the payment process. It is made up of a software that is used for recording all of the details of each sale as it occurs, all the while updating the inventory records while providing customer management features which enables easy operations of your store.

It further generates reports for you so that easy analysis of sales data is made possible. The hardware of a POS may also consist of a bar code scanner, cash drawer, receipt printer, order puncher, and other such peripheral equipment based on your own particular needs.

The Innovations

POS in retail has seen a lot of innovations over the years but now with the rapidly changing technology, we have witnessed some very innovative POS systems come into the market. The innovation has brought more ease and comfort for both customers and retail shop owners. Retail business owners are demanding more unique innovations in order to stand out from the rest of the competition.

Some of the innovations that we are starting to see in POS systems are discussed below.

 No Checkout POS

Point of Sale Systems have revolutionized retail businesses. Imagine a store where you arrive, walk around in the aisles looking for your required items, pick them up and walk out of the store with them. It is possible. An innovative POS system automatically generates payments the minute you walk out of the door. There would be no physical POS system and no requirements to scan codes. Originally brought forward by Amazon, this innovative POS system is now making its way into the mainstream retail business sector. The new POS System makes use of sensors and artificial intelligence to make the payments with a customer’s virtual cart where the customer is charged for the products without having to physically checkout.

Mobile POS App

Order and pay on the move the next time you head out to eat or grab a coffee. Make use of the interactive apps on your phone that also act as an innovative POS system, allowing you to not only order your food but also pay for it as you go, enjoy your meal, and leave.

 This innovation was introduced by a coffee shop in the UK. It simply quickens your procedure, allowing you ease and comfort while also allowing business owners the comfort of a hustle free counter. The same point of sale system is being followed by a shoe shop in the UK as well, allowing you to buy a selected product by simply scanning the code on your product and making a payment automatically.

Virtual Shopping With Tablets

Innovative POS Systems are also helping to enhance the customer experience by not having to go to every retail store. The products are simply kept on display, where a giant tablet is also provided  the window, allowing customers to go through the latest collection of clothing of their favorite brand. The customer has access to designs, colors, and a variety of stuff on their fingertips without wasting their time going through stacks and rows of clothing. The same tablet can then be used to place your order and pay for it. This POS system is gaining quick popularity in the US.

Make Your Face Your Money

A hotel in Birmingham has come forward with a unique innovation in the POS where all customer just have to smile as they check out. It triggers a picture which is matched to your profile picture on PayPal, allowing you to make payments on the go without having to go through any hassle. Once the payment is made, an e-receipt is generated.

Conclusion

POS Systems are revolutionizing the way customers experience shopping. As newer POS Systems are generated, the customer experience is enhanced, providing both the business and customer benefits.

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