Post by hanro1187 on Feb 14, 2024 4:52:10 GMT
What is SoftPOS technology? How does it enable contactless payments and give the much-needed boost to the businesses of shopkeepers and shopkeepers? Let's find out in this article! SoftPOS The growing popularity of contactless payments According to Mastercard, compared to the beginning of 2020, contactless payment volume has increased by at least 50% in more than 100 countries. Similarly, research commissioned by Visa notes that 65% of consumers globally want to use contactless payments more widely than they do currently. Even countries like Germany, Austria and Switzerland that are closely tied to the use of cash have gone cashless and more than three-quarters of these payments are now contactless .
In reality, however, contactless payments were gaining Australia Telemarketing Data traction long before the pandemic began. According to one study, the global contactless payments market was worth $1.168 billion in 2019 and is forecast to reach $5.424 billion by 2027 – a compound annual growth rate of 20.6% from 2020. until 2027. Thankfully, Software Point of Sale (SoftPOS) technology – also known as Touch Phone – can now meet the needs and expectations of both merchants and consumers safely and conveniently. What is SoftPOS? SoftPOS SoftPOS is an innovative system that leverages near field communication (NFC) technology to initiate transactions between consumers and merchants.
It allows merchants to convert their smartphones into POS devices and eliminates the additional investments required in the case of its predecessors. This technology is especially revolutionary because it completely eliminates the need to manage additional hardware such as card machines or physical POS devices. Furthermore, this completely software-based system not only accepts merchant payments, but can also: Store and process payment information Generate payment receipts in real time Create detailed purchase reports Manage seller inventory Offer discounts and promotions in real time Merchants can also easily customize the functions of the softPOS system to suit their respective business needs.
In reality, however, contactless payments were gaining Australia Telemarketing Data traction long before the pandemic began. According to one study, the global contactless payments market was worth $1.168 billion in 2019 and is forecast to reach $5.424 billion by 2027 – a compound annual growth rate of 20.6% from 2020. until 2027. Thankfully, Software Point of Sale (SoftPOS) technology – also known as Touch Phone – can now meet the needs and expectations of both merchants and consumers safely and conveniently. What is SoftPOS? SoftPOS SoftPOS is an innovative system that leverages near field communication (NFC) technology to initiate transactions between consumers and merchants.
It allows merchants to convert their smartphones into POS devices and eliminates the additional investments required in the case of its predecessors. This technology is especially revolutionary because it completely eliminates the need to manage additional hardware such as card machines or physical POS devices. Furthermore, this completely software-based system not only accepts merchant payments, but can also: Store and process payment information Generate payment receipts in real time Create detailed purchase reports Manage seller inventory Offer discounts and promotions in real time Merchants can also easily customize the functions of the softPOS system to suit their respective business needs.