New Technology For POS Systems

Posted on: 6 February 2015


Point of sale systems are utilized for customers making payments for goods and services via a credit card. The standard credit card machine, however, is now seeing some competition with new technological advances. Utilizing things like mobile payments, smartphone software, and tablets, point of sale transactions are now faster than ever before.

Payment with Mobile Phones

Merchants today who are on the go can now accept payment right at their work site. Small card readers can be inserted into the merchant's smart phone, which connects to software that allows them to take and process payment. This is especially ideal for people who sell their goods at fairs and trade shows, and for construction contractors who want to have their customers pay immediately for the work they've done upon completion. These small readers are fairly inexpensive, and merchants typically only have to pay a small monthly fee or a percentage of their sales in order to accept mobile payments.

Utilizing Tablets to Take Payments

The days of cumbersome screens or monitors attached to a computerized POS system are quickly passing. Today, software installed on a tablet can serve as a payment gateway, allowing the merchant to be mobile if they choose while taking up less counter space in their store. A swipe reader is attached to the tablet, and then the customer can virtually sign with their finger or a stylus to authorize the payment. This process is much faster than a regular credit card machine, which can take a while to process and approve the transaction.

Contactless Payment

New point of sale systems are available where the customer does not have to swipe their card at all. Instead, they can simply wave the credit card over the POS console, and it will immediately read it and process the payment. This can be very beneficial to businesses with a lot of customers like convenience stores or restaurants, particularly when there is a long line of people waiting to check out. Customers must have a new credit card with a microchip embedded inside that allows them to make contactless payments. 

Apple Pay

Apple is one of the world's most profitable and successful companies, so it's no wonder they've delved into the world of mobile payments. Their new payment processing platform allows users of the iPhone 6 or Apple's new Watch to pay with a simple tap of their device. The user simply needs to enter their credit card information into the device once, and then it can be used to pay for things in stores where there is a contactless reader. A simple tap, and the payment has been made. This makes checking out much easier. It can also be utilized for paying through apps installed on the device as well.

For more information, contact a business such as Schmaus Cash Register Company.