The trend for restaurants and banks alike, is to not only provide better services to clients but also to utilize point-of-sale (POS) applications such as Apple Pay to better utilize data about customers to increase their revenues, according to Financial News Media (www.financialnewsmedia.com) In fact, those companies that do not utilize POS services/applications, will lose ground on their competitors by not maximizing their revenue, adds the research group.
A recent industry article focused on banks, has said: “Every bank who is in the checking account business should partner or own a solution for their merchants or they will lose those merchants very quickly… (and that) there is no one size fits all POS solution…”
Another industry source article focusing on restaurants states: “The customer is powering the point of sale as we move into 2019, and tech and trend prognosticators agree that guest preferences are driving what the POS of the future will look like.
As restaurants grapple with how to enable more and more ordering channels and fulfillment from in-store, drive-thru, curbside and delivery, they are facing a — perhaps uneasy — reality in which sales are up despite a decline in in-store traffic/
The next-generation point of sale is being shaped by the call for the POS to be all things for all people, Financial News Media says. To achieve this, suppliers and operators must pinpoint customers’ biggest pain points and solve for that, the research group adds.