Blog article
See all stories »

Unleashing the Power of SoftPoS Solutions: A Path to Business Success

In today's rapidly evolving business landscape, maintaining a competitive edge is imperative for businesses of all sizes. One ground-breaking technology that has revolutionised the payment world is Software Point of Sale (SoftPoS). By embracing SoftPoS solutions, businesses can streamline their payment processes and eliminate the obstacles created by expensive hardware such as chip and pin machines.

SoftPoS empowers merchants and consumers to leverage the devices already in their hands, delivering a seamless payment experience. Whether you're in the retail industry, managing a hospitality establishment, or participating in festivals, SoftPoS seamlessly integrates into your business operations.

SoftPoS offers a plethora of benefits that can future-proof your business. However, to effectively cater to consumer demands, it's crucial to understand their preferences and behaviours. With Lloyds Bank reporting that 87% of face-to-face payments in the UK are now made using contactless technology, it's undeniable that SoftPoS will play a pivotal role in shaping our society's payment landscape.

Why a deeper understanding of consumer behaviour is invaluable

Consumer behaviour is at the heart of every successful business. Understanding what drives consumers to make purchasing decisions is invaluable information. SoftPoS solutions, equipped with data analytics and reporting tools, provide businesses with the means to gain deeper insights into consumer behaviour.

SoftPoS solutions enable businesses to create tailored experiences that resonate with customers on a personal level, fostering a stronger emotional connection between the brand and its audience. This heightened connection is a result of merchants being armed with insights into consumer preferences, allowing them to customise their products or services to better align with what their target audience desires.

This level of personalisation can lead to increased sales and greater customer loyalty. Additionally, by understanding how consumers engage with marketing efforts, businesses can optimise their marketing strategies, ensuring that their marketing budgets are spent more effectively and ultimately resulting in a higher return on investment.

Embracing SoftPoS and the benefits for business

The adoption of SoftPoS solutions offers a myriad of benefits to businesses, regardless of their size, and encourages:

  1. Simplicity and Speed - SoftPoS solutions provide a simpler and faster way for customers to make payments using their NFC-enabled smartphones or tablets. This streamlined payment process reduces friction and can lead to shorter checkout times, ultimately improving the overall customer experience.
  2. Increased Sales and Repeat Business - When customers find making payments hassle-free and convenient, they are more likely to complete their purchases and return for future transactions. This can result in increased sales and higher customer retention rates.
  3. Cost reduction - Traditional point-of-sale systems often come with significant upfront costs for hardware and software. SoftPoS, being software-based, eliminates the need for expensive hardware investments. It also reduces maintenance and upgrade costs over time.
  4. Improved customer experience - A smooth and efficient payment process contributes to an overall positive customer experience. Happy customers are more likely to recommend the business to others and leave positive reviews.

SoftPoS solutions not only enhance convenience but also open doors to new markets and opportunities. By facilitating payments through smartphones and tablets, merchants can extend their reach beyond traditional brick-and-mortar locations. This newfound flexibility can be especially advantageous for small businesses seeking to connect with a broader audience.

What the future holds for SoftPoS

The future of SoftPoS technology holds a great promise as recent developments underscore its growing significance within the payments market. Apple's introduction of Tap to Pay on iPhone represents a pivotal advancement that solidifies SoftPoS as a trusted and dependable payment technology.

The endorsement of SoftPoS by industry giants highlights its reliability and importance in the ever-evolving payments landscape. By adopting SoftPoS now, businesses can position themselves ahead of their competitors and deliver the seamless, contactless payment experiences that customers increasingly demand.

The SoftPoS landscape is characterised by continuous innovation. As technology continues to evolve, so will the capabilities of SoftPoS solutions. Merchants that embrace this technology will reap the benefits of ongoing enhancements and features designed to improve efficiency and customer satisfaction. As the future unfolds, SoftPoS will present new opportunities and capabilities for forward-thinking businesses ready to harness its full potential.




Comments: (1)

A Finextra member
A Finextra member 04 October, 2023, 20:15Be the first to give this comment the thumbs up 0 likes

And what does a merchant do when a customer's payment card has used up it's "number of contactless transcations" limit and they don't have an alternative card? (And don't say use pay by text or link or QR code, because they're not card-present transaction methods).

And how does it get deployed in the US where banks prohibit deployment of contactless-only terminals?

And what do you do when your customer becomes so frustrated at tapping and wiping and swiping because your Android phone is to weak to read an NFC card?

Currently it's a flawed technology, and not fit for mainstream commerce.

Brad Hyett

Brad Hyett



Member since

29 Jul 2020



Blog posts


This post is from a series of posts in the group:

Payments strategies 2015-2020-2030

Payments systems visions, strategies, trends, pilots, forecasting, and planning for the short-, medium-, and far-term.

See all

Now hiring