Here Are the 6 Benefits of a New Retail POS System

Here Are the 6 Benefits of a New Retail POS System

If you have used the same POS system at your retail store for three, five, or even ten years, you are probably wondering if it’s time to get an upgrade.

Old systems can glitch, creating customer service issues for you and your staff. In addition, many are lacking modern features, such as the ability to accept chip and mobile payment.

You will find that a new retail POS system runs efficiently and has all the bells and whistles, including data stored in the cloud and real-time analytics!

At Cornerstone Credit Services, we vend the one of the most modern, intuitive, and flexible POS systems on the market, Clover! Find out what the Clover POS system is and what the pros and cons of the Clover POS system are in our latest blogs!

1. A New Retail POS System Will Make Checkout Faster

Say “goodbye” to processing glitches, the “blue screen of death,” and random shut-downs! Upgrading to a new retail POS system will eliminate the odd errors created by outdated software and hardware, improving checkout times and customer service.

As technology advances, the efficiency of retail POS systems advances with it. New retail POS systems are generally faster, including the faster printing of receipts. It is a common problem among old POS systems to keep customers waiting upwards of 20-30 seconds for their receipt when it should only take 2-3 seconds to print with a new system!

2. Accept Chip and Mobile Payment with a New Retail POS System

Chip cards are currently the most secure way to pay on the market! Card companies Europay, Mastercard, and Visa (EMV) have added chips to their cards to protect their cardholders. By upgrading your retail POS system, you are signaling to your customers that you are “with the times” and you care about their financial security.

Mobile payment (NFC or Near-Field Communication) is another advanced technology that you will only find in newer retail POS systems. More and more smartphone users are adopting the use of their mobile wallet. If you invest in a new retail POS system, you allow these customers to pay comfortably and conveniently.

3. Take Payments on the Go

Much of the new retail POS software operates on smartphone and tablet, allowing you and your staff to take payments wherever you go. No more telling your customers, “Let me give you a call when I get back to the office and I will take your credit card number then.”

4. Establish a Loyalty Program with a New Retail POS System

Many new retail POS systems have options for rewards programs, a great way to reinforce positive shopping behavior among your customers! These programs can be established based on the analysis of shopping behavior data provided by new retail POS systems, which we will talk about in the next section.

For more information on the benefits of launching a customer loyalty program for retail, read our blog!

5. A New Retail POS System Will Provide Real-Time Analytics

Track customer and sales data as transactions are occurring! The latest retail POS systems give you the power to make data-informed business decisions. You will know:

  • If you are reaching your sales goals on a month-to-month and year-to-year basis
  • Which products are selling, for the better management of inventory
  • The most popular and unpopular days for shopping at your business

6. Store Data in the Cloud with a New Retail POS System

Most new retail POS systems store data in the cloud. This means that you can access your information anytime, from anywhere, on any internet-connected device. It also means that your data is encrypted, secured, and backed-up on hard drives in remote data centers.

Ready to see what a new retail POS system can do for your business practices and customer service? At Cornerstone Credit Services, we vend Clover, one of the best retail POS systems on the market. We would love to talk with you in greater detail about Clover. Give us a call!

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