3 Cashless Pos Features You Should Be Looking For
Most businesses have been hit hard owing to the Covid-19 pandemic and the eventual lockdowns. From adversely affecting manufacturing capabilities, to disrupting supply chains, and slashing the purchasing capacities of most consumers, the last one and a half years have posed multiple challenges for retailers. To cope with these complexities and new norms, the cashless POS and touch screen POS machine has been instrumental for business establishments to combat lower footfalls and entice hesitant customers.
Advantages of Cashless POS
The cashless POS and the touch screen POS machine in particular have multiple advantages for retailers today. Here is a snapshot of them:-
- High-speed, secure transactions
- Convenient checkout experience with appropriate social distancing
- Zero-contact payment modes like Scan and Pay, UPI payments, and Digital Wallets
- Hassle-free payments for doorstep deliveries and on-site services (in the case of portable touch screen POS machines)
- Credit-based payment options for budget-pressed customers
- Loyalty points/Gift vouchers integration to induce repeat purchases
- Enhanced employee productivity
- Facilitates smoother retail audits and eases out inventory management
- Higher Sales by roping in a higher number of customers who prefer different digital payment options
Important Cashless POS Features for your Retail Business
If you are planning to procure a high-quality touch screen POS machine, you should ideally know about these 3 cashless POS features that are pivotal for any retail business today. While there are multiple traits, benefits, and diverse options provided by payment service providers, these top 3 cashless POS features constitute the top-tier for any retailer:-
- Intuitive Touch Screen Menu and Drop-Downs
The single biggest reason for investing in a POS system is to speed up payments and expedite the whole checkout process. This is only possible if the POS operating system is user-friendly (Android-based is ideal) and has an interactive menu with all the necessary drop-down options in one glance. Opting for an easy-to-use touchscreen Pos machine is also important because you will not require any special or intensive training sessions for your staff. Just a couple of demonstrations will be enough for them to start using the cashless POS with ease. Portability is yet another factor that adds to the convenience of using a POS machine.
- Generation of E-Receipts and E-Invoices
Cutting the flab has become a top priority for entrepreneurs today. One of the biggest NVA (non-value-added activity) in erstwhile retail operations was the use of printed receipts and invoices. Firstly, you had to invest in a high-quality invoice printer. Next, there was precious time wasted in taking prints, handing them over to customers, taking their signatures, and filing duplicate copies. Also, an invoice printer with the paper getting stuck mid-way (and the impending chaos) used to be a common scene at many retail outlets. With the immense popularity of digital payments, the need for physical bills and receipts no longer exists. So when you invest in a cashless POS machine, make sure you opt for one that enables the auto-generation of e-receipts and e-invoices.
- Scan and Pay Option
Of all the digital payment modes available at retail stores today, QR code scanning is the most popular. Its popularity in the Indian payments market is so profound that one can commonly observe vegetable/fruit sellers, food vendors, and local stores putting up their respective merchant QR codes to receive payments via smartphones. As a retailer, you need to ensure that your cashless POS device enables the scan and pay option. It could be QR code scanning using a digital wallet, a banking app, or UPI/Google Pay. Enabling this payment option is a must for ensuring zero-contact payments and appropriate social distancing during checkout.
Until recently, a majority of Indian shoppers and merchants were accustomed to traditional cash payments and analog business operations. Even with the advent of eCommerce, most of us still hold an affinity for shopping in brick-and-mortar stores where we can physically verify and buy the merchandise. Initiatives like Digital India, a conscious shift towards a cashless economy, and of course the Covid-19 pandemic, have collectively pushed the need for minimal-contact shopping and digitization of businesses with cashless payments acceptance. The demand for the cashless POS and touch screen POS machine is therefore at an all-time and expected to spiral further upwards as days pass by.