By Rory Bosman, Sales & Marketing Executive at Ecentric Payment Systems
Mobile point-of-sale technology is not just a mobile POS, it is a gateway to a modern retail experience. That matters, because that is exactly what consumers are looking for.
How do we know this? As a leader in African payments, Ecentric Payment Systems is also the payments partner for 65% of JSE-listed retailers. Powered with this vast understanding of in-store payments, online payments and much more, we released the country’s first-ever formal Black Friday Index, and the findings make one thing clear: In-store experience matters because even during the greatest peaks in online volume, customers are still choosing to purchase in-store.
In 2024, from the beginning of November to Christmas Eve, in-store revenue as a proportion of total revenue saw a 109.4% surge, doubling from 5.3% to 11.1% of total holiday revenue. Which retailers did best? Those who capitalised on the peak moments saw the biggest gains. They got their payments right, but they also got their in-store experience and inventory management right.
It’s not just Black Friday and Christmas where this matters. Take a walk through a retail outlet on a Saturday or Sunday morning, or the rush after work! In the fast-moving consumer goods space, it is not unusual to see queues snake through the store.
How does mPOS become a gateway to an elevated retail experience?
mPOS is a gateway to a modern retail experience because it goes well beyond just a mobile point of sale. It is a sophisticated technology architecture that reimagines retail. It redefines actual interaction and payment technologies. At its core, mPOS integrates cloud-based processing platforms with advanced technologies such as machine learning to enable real-time data interpretation and transactional intelligence. This encompasses secure payment gateways, biometric authentication protocols, predictive analytics, and more, to transform traditional retail spaces into intelligent engagement environments.
In other words, a modern retail experience means more efficient, personalised customer interactions, while optimising operations for retailers.
Let’s look at some of the practical benefits of a well-designed and well-implemented mPOS:
- Shorten queue times – during peak times customer experience is non-negotiable because no one wants to see trolleys abandoned.
- Optimise return per square metre – traditional POS setups take up a lot of space but this is not ideal in a world where every metre counts.
- In-aisle product information and purchasing – omnichannel shopping is the future, our Black Friday report proves it.
- Provide customer access to broader product portfolios – engage with customers with an entire catalog of products beyond just physical store inventory, take a variety of payment options, and organise in-store or at-home delivery.
- New revenue streams from value-added services (VAS) – enable staff to upsell and cross-sell a host of new, digital products and services.
- Personalisation and data-driven customer service – this is no longer the preserve of ecommerce. Know the customer and their past behaviour both online and in-store and tailor their experiences, and offers, on real-time predictive intelligence.
- Manage inventory intelligently – enjoy the benefits of an intelligent system that enables real-time stock tracking which improves inventory management.
A modern retail experience is no longer just the reserve of enterprise retailers, though it certainly is a necessity for them to remain competitive. mPOS technology opens the door tothis future level of capability to a far wider pool of mid-sized retailers too. It’s not just about POS and payments, it’s about a genuinely modern retail experience to drive a competitive advantage.
Perhaps the most surprising thing is that implementations are far easier than expected when retailers work with payment experts who deeply understand the retail and payments landscapes. Contact us today to start your journey towards a modern retail experience.
