We outline the market outlook for physical point-of-sale systems — from investment trends, to leading companies, to recommendations for players in the space.
What is a physical point-of-sale system?
A physical point-of-sale (POS) system is the hardware and software that help businesses accept payments from customers in person.
Companies in this space focus on brick-and-mortar POS services and solutions. These include card and chip readers, which are often bundled with tablet-based business management solutions.
Physical POS terminals have evolved from transaction-oriented devices to systems that can integrate with a business’s customer relationship management system and other financial solutions. Modern POS terminals can help reduce maintenance costs, helping businesses improve their revenue streams and inventory management.
Features & capabilities
Physical POS systems provide vendors with several capabilities, including the following:
- Collaborative platforms for ease of customer conversion for banks and merchants
- RFID-based fast payment systems
- Smart payment management