Todays’ smart retail environment needs a network strategy that includes secure IoT connectivity. Smart PoS connectivity helps to react quickly to change of expectation and increased competition. Therefore, to survive, businesses have to adapt to the latest technology, utilizing PoS connectivity.
Basic wired PoS Systems can no longer cut it, and even Wi-Fi has its disadvantages. As a result, issues with broadband speeds and security problems lead to system losses and the ability to process transactions. Furthermore, some PoS systems may also lose the ability to verify check payments.
PoS Connectivity Challenges
Inconvenient transaction: PoS failure means customers need to withdraw cash to complete payment.
- Low business efficiency: Poor network connectivity causes delays and errors on transactions for the business owner as they cant received real-time updates regarding the sales and inventory itself.
- Unhappy customers: Slow payment increases customers waiting time at the counter and will wear out the customer’s patience as this may affect the returning customer or new customer prospects for the business itself.
- Vulnerable Security: PoS failure increases data loss and customer info leakage, this will cause the customer to question the security and the safety of their data.
Point of Sale (PoS) needs high data IoT connectivity
–Point of Sale (POS) devices is no longer used as payment processing tools. Most noteworthy, they have evolved into databases for valuable customer information and retail insights.
The rapid growth of online, mobile commerce, and connected PoS options need larger databases. Furthermore, they drive inventory management, supply chain management, and customer relationship management. Also, Big Data analytics for targeted marketing and sales campaigns.
The key to meeting these challenges is utilizing high-speed IoT connectivity. Consequently, this means using 4G LTE cellular as part of your PoS connectivity strategy to cope with demand.
How can Smart Retail benefit from IoT
Smart retail use Point of Sale (PoS) as a smart and efficient retail solution. As a result of these smart retail tools and management, high data connectivity can take the business to a new level.
Most noteworthy, high data connectivity ensures reliable and secure real-time transactions. As a result, it enables both financial and personal data, and capturing backend customer data.
Transaction processing time is quicker, with fewer customers waiting at the checkout counter. Consequently increasing customer satisfaction and improved business efficiency help to boost sales.
Furthermore, retail productivity is also enhanced with multi-locations interconnecting with each other. As a result, enhancing productivity and meeting shoppers’ expectations set by smart technologies.
iMin POS as IoT devices can help retails in how many ways.
Our handheld pos, M2 solved the long waiting time and also increases the efficiency of the business as it’s all-in-a-one POS.
Desktop POS with cloud assistance,
Followed up by D-series desktop POS with much more seamless integration with the cloud assistance to aids in the remote control of the device and also the real-time updates of the sales report and inventory.
As an example, our D1w in one of our software partners, namely Weebo POS and ZhangLiang MaLaTang where all the functions such as e-payment, food weighing, and the seamless integration of the device come together to give the business owner relief in their business.
We’re starting to see interesting problems solved by the open-source community around distributed key-value storage, data consistency algorithms, security, failover, log streaming and storage, and even data warehousing and aggregation.
There will be massive innovation in the area of low-power distributed computing, and large SaaS and service companies will emerge to solve difficult problems using open source platforms.