Is your retail business still running on the same cash register or payment terminal you’ve been using for the last decade? If so, it may be time to move to a smart terminal solution designed to meet the needs of today’s customers, who expect a seamless, personalized experience.
In an age when competitors are always just a few clicks away, it is critical for merchants to invest in new technology and ensure they deliver world-class customer experiences with every transaction. When retail businesses are still relying on old-fashioned tools, lines are longer and slower and cashiers have a higher chance of making errors, whether that’s charging customers the wrong price or handing back the wrong amount of change. Either way, the customer experience suffers—which is a big deal, considering the fact that customers are four times more likely to leave brands following a bad experience.
By investing in technologies such as smart payment terminals and the latest POS systems, retail businesses enjoy a number of key benefits.
1. Improved experiences
The majority of customers enjoy using the latest technologies. By investing in new systems that take the effort out of simple transactions, you can improve the customer experience—increasing the chances that casual or infrequent shoppers will evolve into loyal customers who make up a huge chunk of your revenue.
2. Decreased expenses
By automating manual processes, smart payment terminals and POS systems help retailers lower their expenses. As transactions become faster, the cost of paying an employee to ring up a single customer decreases. Leading POS systems can also make tasks such as inventory management easier and faster, helping you lower your costs even further and gain time back in your week.
3. Increased productivity
In the past, business owners would be tied to their back office when it came time to reconcile the day's sales, schedule staff, or pay suppliers. Thanks to the latest POS solutions, however, it’s now possible to do all of this on the go, from any connected device. As a result, business owners can get more done in less time—another way to gain time back so you can focus on growing your business and delighting your customers.
4. Improved competitive advantage
It’s likely that at least some—but not all—of your competitors have already moved to the latest innovation in POS solutions. The sooner you upgrade to a smart payment terminal, the sooner you’ll be able to get ahead of competitors that are slower to adapt.
The technology to transform your retail business and workflow already exists. Here’s the easiest way to make it happen.
Poynt: The Platform for Open Commerce
Poynt is the platform for open commerce designed to help merchants like you transform their operations to improve productivity and strengthen the customer experience. The platform is made up of five key components that work together to provide an unrivaled payment experience for customers while giving business owners the tools they need to make work easier. Let’s explore each of them.
1. Poynt Smart Terminals
Poynt has two devices—the Poynt Smart Terminal and Poynt 5—that empower merchants to deliver an unprecedented payment experience in-store and on-the-go. These connected, multipurpose devices are built to accept all payments and run all applications.
2. Poynt OS
Poynt OS is a secure and open operating system, built on Android, that is designed to work with any smart payment terminal connected to Poynt Cloud, deployed anywhere in the world.
3. Poynt Cloud
Merchants can use cloud-enabled services to manage their business (e.g., Poynt HQ and Data Backup), and resellers can use them to manage and monitor their estate (Mission Control).
4. Poynt Apps
Deliver smoother customer experiences by adding any number of core Android apps to Poynt, including Terminal, Register, Transactions, Settlements, Catalog, Manual Entry, and Help.
5. Poynt App Center
You can also extend Poynt systems with apps developed by our user community to support specific workstreams that are available in the Poynt App Center, a digital center for curated, vertically bundled business apps built by third-party developers.
To learn how you can use Poynt to transform your retail business, check out our Merchants Home to see how easy it is to get started.