Retailers lag behind users in shift to mPOS: report
While retailers are taking their time rolling out mPOS systems, consumers seem to be willing to make the switch, with 51 percent of Americans believing that traditional cash registers are outdated, according to a report by I Love Velvet.
The “Consumer Mobile Point-of-Sale Attitudes Report” was conducted by OnePoll and polled a sample of 1000 United States adults. Thirty-five percent of respondents said that they would shop at a store more often if it offered an mPOS solution.
“We find that most Americans view traditional cash registers as outdated because more and more retailers that are known for innovations are moving away from cash registers and going more towards mPOS,” said Pascale Juan, chief operating officer of I Love Velvet, New York.
“We do think traditional cash registers are facing extinction as more and more of the larger retailers begin to implement mPOS and are replacing traditional cash registers,” she said. “Smaller retailers will start to adopt the same strategy, and you will start to find less and less traditional registers in retail.”
According to the report, 26 percent of consumers feel most comfortable using mPOS in retail, 14 percent said the food/beverage industry and 10 percent said airlines/car rental companies.
With consumers seeming to become more comfortable with mobile checkout, retailers and other companies owe it to themselves to look into replacing traditional cash registers.
Even though more than half of respondents thought that cash registers were outdated, many of them were a little hesitant when it came to mPOS. One in five consumers had allowed a retailer to check them out with an mPOS system, and one in ten say they would be more likely to if they had more information about them.
Retailers should not only look into mPOS systems because consumers are asking for it, but they can also use mPOS to create an overall better shopping experience.
They can use mPOS systems to learn more information about consumers and their habits to create a more personalized experience.
As is the case with mobile payments in general, the report’s respondents did share some security concerns when it came to mPOS systems.
Fifty-seven percent of respondents said security was their No. 1 concern with mPOS. Additionally, 88 percent had doubts about a retailer’s ability to protect their personal payment information.
While consumers are beginning to understand that POS systems need to change, it is up to the retailers to convince them that mPOS systems are the best alternative.
“There are definitely some mPOS systems that can replace the cash register if you base it on function and added value,” Mr. Juan said. “MPOS systems have more than just credit card swipes – they’ve now evolved to have more functions. For example, working with wireless cash draws and printing receipts.
“And as added value, mPOS systems allow retailers to engage with their customers more, take transactions from anywhere on the store floor and allow them to make the shopping experience much more convenient for their consumers,” she said.
Rebecca Borison is editorial assistant on Mobile Commerce Daily, New York