POS machines with opportunities and challenges

- Dec 06, 2018-

POS machines with opportunities and challenges

With the changes in living habits and the shift of consumption scenes, the era of mobile payment has arrived. Is there any chance for ATMs to die? We don’t know.

But what is certain is that when the spotlight on the ATM body gradually becomes stunned, the flash on the POS body is flickering, and a new round of opportunities and challenges is coming.

From a technical perspective, the POS industry is undergoing positive changes through the rise of mobile payments and the widespread use of high-tech such as biometrics. POS machines can only accept bank card physical card payment methods in the past to upgrade to both two-dimensional code payment and NFC mode (NFC is NearFieldCommunication, NFC mode payment refers to the use of NFC RF channel to achieve with POS cash register or automatic Local communication for devices such as vending machines, which can be paid without a network), and other omni-channel payment methods.

Look at the demand side again. With the advent of the new retail era, the application scenarios of POS machines are increasing.

On the one hand, with the help of consumption upgrades, the demand for POS machines in the original traditional retail stores is increasing; in addition, new retail formats are emerging, unmanned stores, self-service cash registers, etc., intelligent retail terminals, new conveniences Intelligent application scenarios such as stores have gradually become popular.

On the other hand, there are new players in the physical retail industry, and the “cake” is constantly growing. Ali, Jingdong, SF Investment entities retail and open direct stores; Amazon opens physical bookstores, convenience stores in the United States...

Under the above background, the market demand for POS machines is expanding, and the related business revenues of the enterprises also show different degrees of growth.

At the same time as the market demand “quantity” expands, the market’s demand for “quality” of POS machines is also increasing.

On the one hand, the popularity of mobile payment and the application of related diversified APP put forward higher requirements for POS terminals, which forced the POS machine to develop towards intelligence.

The diversity of market participants determines that POS machines need to be integrated and compatible with various payment methods, and the POS machine is upgraded from a simple payment machine to a comprehensive collection of “payment inlet + data center + marketing management platform + financial service platform”.  management platform, taking on a new intelligent business role.

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