The broadened accessibility of POS Systems by virtue of the competitiveness of the market for POS equipment has vastly improved the appeal of the systems to merchants all around the world. POS terminals are now the preferred means of processing credit cards, debit cards, checks, smart chip cards, etc. in a retail environment. As countries in East, South, and Central Asia vie to establish new, bigger roles for themselves in the global economy, increasing numbers of merchants in those areas are making the very important transition into using POS terminals in their institutions.
As may be anticipated, China, India, and Russia are leading the growth of Asian POS terminal networks. POS networks are are undergoing landmark growth in these countries. A new joint venture between ICICI Bank and First Data Corporation in India will enlarge ICICI’s network of terminals from 150,000 to 500,000 terminals during the next five (5) years. In China, the amount of credit cards in circulation is expected to double by 2013. Prospects like these reflect Asia’s burgeoning culture of consumerism, which stems from the continent’s increase in economic power in the past ten years.
Having gained considerable acceptance in the big urban cities of the more wealthy Asian nations, POS terminals are now making their way to smaller towns and other countries across the area. Cashless transactions have the potential to help eliminate some of the numerous cultural, geographical, and economic barriers between the developed, developing, and under-developed worlds. This past December, 30 POS terminals were installed at 12 unique markets in Tashkent, the capital of this Central Asian state of Uzbekistan. This step was taken by merchants in response to growing demand for purpose POS terminals, particularly since 70-80% of Uzbekistani government workers’ salaries are deposited onto debit cards.
Certainly, the vast majority of Asia still uses money as their main method of payment; but there’s noticeable evidence of a burgeoning continental paradigm shift toward cashless transactions akin to the one currently in full swing in North America and Europe.
What POS Products Do You Really Want?
Shop owners, especially in these hard times, have to watch their pennies when investing in Point of Sale (POS) hardware. What hardware is vital for the successful operation of your company? What hardware can you do without? POS hardware is a phrase which refers to each the elements that make up a POS system. The purpose of these components is to read data crucial to the functioning of your store; transfer this information; and process it in useful form. Here’s a description of the simplest kinds of POS hardware, so you can determine what POS products are really necessary for your company.
A computer workstation is the basic element which forces all the peripheral elements. This core computer operates the Point of Sale software which processes the information and reports on it. The monitor is a display which visually displays the transaction. There are monitors including a touch screen capability, which permits the user to select information directly on a graphical user interface. This is accomplished by simply touching the screen with a finger. There are other kinds of monitors that display data input from other POS hardware parts. The server is just another computer that’s in a community using the computer workstations. The server stores all of the data which is related to the Point of Sale system, allowing the data to be locked into a secure site. In certain retail establishments, a pole display is used as a way to display the complete price to the client. Point of sale scanners allow the consumer to scan the bar code and UPC of a product quickly and correctly. Then this information is sent to the software in the home system, which matches data from the bar code with info from the database listing the stock. Bar code scanners can be an excellent help in improving client turnaround and general checkout efficiency. A credit card swipe is integrated with the POS system to rapidly and correctly approve the client’s credit card and to enter the transaction to the system. If your shop uses debit and credit cards, then the credit card swipe is a vital component to business success. Receipts can be printed quickly and more economically from a POS than can be accomplished with a cash register. The printer may print your shop logo and contact information in addition to the transaction info, and reduce the receipt by itself. For branding and marketing a receipt printer is a very helpful tool.
The cash drawer is a organized and secure place where money is stored to allow business transactions. Cash drawers can be bought new or, like many refurbished Point of Sale products, can be obtained more cheaply refurbished. Drawers are produced in a vast array of styles, sizes, and colours. Besides aesthetic factors, your principle concern in the selection of a cash drawer is the cash menu. It’s ideal to have different areas for as many money denominations as possible, with adequate space too for extra coins – like the odd fifty cent or Susan B. Anthony piece that may turn up. The money compartment should have a tensioned metal bracket that helps to hold the invoices. Cash drawers can be the stand alone hardware, but they’re most effective when attached to a POS system computer. This connection is made through a serial port, and the drawer can be attached to some other parcel of POS hardware that reads and processes the information of the transaction.