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ePOS Systems in 2021

Electronic POS or Point of Sales systems have been around since 1973 when the international computer corporation IBM introduced the very first commercial ePOS device. Since then ePOS systems have undergone many changes and interactions in order to keep up with both technology and consumer requirements, both of which change on a regular basis as the world dictates.

In simple terms, an ePOS system allows for a cashier to take orders for products, such as a burger and a shake, and then send that order electronically to the kitchen along with the table number, removing the need for an intermediary between cashier and customer such as a waiter.

Current ePOS systems have advanced the technology even further to include features more relevant to 21st-century commerce and customer expectations that are now part of modern retail and expected by customers.

Portability

The advent of mobile phone technology, especially that of smartphones, has revolutionized the POS industry with some of the best devices making use of wireless technology over Wi-Fi, 2G, and 5G in order to take orders and payments within a ranged distance of an internet source via a programmable app on a smart device such as a phone or tablet.

Portable point of sale software has also been extremely useful during the Covid-19 pandemic as social distancing measures meant that limited interaction with retail personnel was a concern and paying by contactless cards has been a necessity. Limited interaction such as this has helped in combating the spread of Covid-19 by minimizing risk to staff and customers alike by reducing touching and cash handling.

Security 

Some of the most concerning threats to eCommerce include fraud, malware, and eSkimming (diverted payment details) which is why ePOS systems now include stringent security measures. The digital nature of modern POS systems has facilitated modern cybersecurity to be applied to retail transactions since cyberattacks affected 155.8 million people in 2020 alone. 

Payment Card Industry (PCI) compliance standards are enforced through most POS apps and the retailers who use them, whereby customer payment card and credit card data is always encrypted both when stored on a company database or transferred to a third-party, and such encryption greatly reduces the risk of customer payment information being stolen or intercepted. 

Adaptability

Since modern POS systems can be applied to smart and remote devices, they are very adaptable for almost any type of business. Portability is one key feature, but the electronic nature of the apps means that they can be highly customized, can interchange software features at will, or add new features with ease, such as additional payment methods like digital wallets like Google Wallet, Apple Pay, and PayPal all of which now accept cryptocurrency.

More features can be added to an ePOS app at your leisure that may suit your business as it grows. Customer-focused features include modern expectations such as email receipts and SMS message receipts as well as printed from some devices. From a retail perspective, the database management systems included with ePOS also allows you to effectively control inventory, with reminders and schedules that can be set accordingly.

While they were in use before, ePOS systems have found their calling owing to their adaptability, security and portability, all of which allows the machines to cater to 21st century requirements where software needs are always changing, cyberattacks are on the increase and Covid-19 dictates that social distancing be enforced.

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