PAYMENTS
In a study conducted by Lightspeed , businesses reported an average 20 % increase in efficiency after implementing an ePOS system
A report by Oracle found that restaurants using modern ePOS systems saw a 32 % reduction in order errors and a 21 % increase in table turnover
Retail Info Systems found that 64 % of retailers consider data analytics capabilities as a crucial factor when selecting an ePOS system
According to a study by American Express , 86 % of customers are willing to pay more for a better experience
The National Retail Federation found that retailers using advanced inventory management systems , often integrated with ePOS , reduced out-of-stock incidents by up to 80 %
He also foresees a shift towards more digital interactions : ” Of course , not every item or service can be sold online , but I anticipate all businesses will offer consumers the ability to plan , book , purchase and service digitally .”
Carol concludes : “ As the payments industry continues to evolve , the integration of AI and other advanced capabilities into smart POS systems will be crucial for helping businesses thrive in an increasingly complex and competitive marketplace .
“ By becoming the nerve center of a business , smart POS systems are not just processing payments – they are transforming how businesses operate and grow , offering the tools and insights necessary to drive success in the digital age .” fintechmagazine . com 121