FinTech Magazine October 2024 | Page 119

PAYMENTS have a basic web presence but does not engage in broader e-commerce activities .”
He further explains the benefits for small businesses : “ Many small businesses have hitherto not had the resources to be able to offer this .
“ Software integrations into things like Google Maps or Google ’ s product search results – this is transformative for a small business : they can give a real-time accurate view of whether they have a specific item in stock and the consumer can pop in to purchase it .”
Carol cites Shopify POS as an example : “ Shopify POS offers retailers a seamless integration between their online and offline sales channels , providing a unified view of their business .
“ This system is particularly powerful for businesses that operate both online and physical stores , as it allows for centralised inventory management , customer data tracking and sales reporting across all channels .”
The future of smart POS systems Looking ahead , smart POS systems are likely to become all the more sophisticated and integral to business operations .
Scott predicts : “ A single platform handling commerce operations and payment operations will be the norm . The current situation of having multiple suppliers for different parts of the business will go away .”
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