Per Juniper Research, the growth of SoftPOS will increase to $10 trillion and more than 34.5 million merchants globally will deploy Software POS by 2027. What are the highlights of SoftPOS that make it gain a growing popularity?

1. Cost reduction

The Software POS solution allows merchants to accept payments on their mobile phones without the need to purchase additional hardware. But this only works for individual businesses run by a single person and they can use their phone as a tool to accept payments. For small-size businesses, they still need to spend on additional equipment. However, it doesn’t mean they cannot reduce the costs.

The traditional payment acceptance utilizes expensive POS hardware to accept multiple payments. However, these devices are expensive because of high certification costs. Instead, merchants don’t have to purchase the costly professional EFT-POS and can directly download the applications on their NFC-compatible devices, which costs less. What’s more, the POS software has a much lower price and even the basic version can be downloaded for free.

2. Easy upgrade

The Software POS solution provides a more flexible method to maintain and upgrade the POS terminals. By using the traditional POS, merchants have to manually upgrade the devices to make them support more payment methods. It’s very complex and costly to upgrade an old POS terminal. In contrast, merchants can upgrade the SoftPOS or add new functions in a wireless method, which can be very convenient and effortless.

3. More functions

The Software POS is a more flexible Point-of-Sale solution and is easy to integrate other functions. The COTS devices can be more compatible with other software. Merchants can easily expand functions like loyalty points, delivery, etc. It helps deliver a seamless customer experience.

4. Convenience

No matter from which point of view, the Software POS solution brings merchants a lot of convenience. It allows merchants to deploy SoftPOS effortlessly and accept payments easily in all application scenarios. It fully caters to the trend of contactless payments and accepts multiple modern payments from customers.

5. Security

Losing POS terminals can bring a catastrophic loss to merchants. What’s worse, the lost equipment is also easy to be used by criminals to collect fees and cause greater losses. By contrast, when using SoftPOS, merchants inform their payment provider of customer service and the customer service operator will enter this information into the Attestation and Monitoring service to block the SoftPOS app on the device.

Since SoftPOS has so many highlights, more merchants are embracing this emerging payment solution. As a smart terminal and solution provider dedicated to satisfying the needs of customers, Telpo has launched the SoftPOS solution.

Telpo has launched a wide variety of NFC-compatible terminals that can run Software POS applications, covering handheld devices, desktop devices, kiosks, ticket validators, etc. In virtue of their powerful performance, the Telpo NFC-compatible terminals have a high processing speed and can be easily integrated with other applications. In addition to accepting payments, Telpo’s NFC-compatible terminals support other daily-use functions like receipt printing.

Welcome to contact us for more details. Telpo is dedicated to being your cooperative partner to boost your business. Let’s unlock the future of payments.

Tag: SoftPOS, Software POS solution, NFC-compatible terminal, emerging payment solution