Line-busting technology to the rescueLine-busting technologies, such as mobile POS systems and kiosks enable transactions from wherever customers are located. Specialty retailers – Apple, Nordstrom, Sephora, Urban Outfitters and others, for example – have adopted the technology for their own checkout models. Except for Home Depot, few mass retailers are utilizing the technology yet. And, Home Depot is only using the line-busting features on its FIRST phone sparingly at this point to speed up the line in the garden section at peak times. But, experts expect mPOS usage at mass to increase greatly. Juniper Research predicts that smartphone and tablet-based mobile POS terminals will handle 20 percent of retail transaction value by 2021 – up significantly from an estimated four percent in 2016. Juniper expects large retailers to account for much of the gain as applications expand beyond line-busting to additional functions such as checking inventory and empowering sales associates with better information.
Benefits of mPOSmPOS offers multiple benefits:
- Consumers and merchants save time. For merchants, time savings impacts revenue – e.g., better turnover at restaurants or fewer abandoned carts in stores.
- Merchants also reap cost savings benefits – Urban Outfitters reports that iPads cost about one-fifth as much as traditional cash registers, for example.
- Less training is involved for merchants whose staff is largely composed of millennials raised with iPads, not cash registers.
- The customer experience improves with no break in the transaction between the salesperson and checkout.
- As applications such as inventory look-up and Internet access are added, upselling is enabled.
- Home Depot’s FIRST phones’ primary functions include checking inventory, locating products and paging, and Internet connectivity has just been added.
- Mobile POS is already NFC-ready for easy mobile wallet payment acceptance.