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The events of the last 12 months have transformed the financial technology sector and catalysed a new wave of innovation that is revolutionising the way we pay, and get paid.
One area where this innovation is on clear display is electronic point of sale, where EPOS technology is helping businesses both large and small survive, and even thrive, during the COVID-19 pandemic.
This is particularly true for consumer-facing sectors such as retail and hospitality; sectors which have been among the hardest hit by the pandemic but where the greatest opportunities lie for digital transformation in the purchase journey.
Even prior to 2020, cash was forecast to account for less than 10% of all payments by 2028. But with the recent widespread consumer adoption of new payment technologies, forward-thinking businesses are investing in EPOS and software POS platforms like never before.
It is these firms that will deliver a better customer experience and grow their revenue more quickly in the race to a new, cashless normal. And it will be systems providers that pioneer the technology to support this growth.
Here at phos, we wanted to provide an overview of what we should all expect from the world of EPOS in 2021. So we’ve published a report on the trends that we’re likely to see take centre stage this year, as told by the industry’s leading EPOS and technology providers such as Munch, Enactor and SumUp.
Here are six key takeaways from our report, based on their insights:
At phos, we’re on a mission to help merchants accept payments directly on their smartphone. Our revolutionary software POS technology turns any NFC-enabled Android device into a payment terminal, without the need for costly additional hardware.
If you’d like to learn more about the phos solution or opportunities to partner with us, please contact us at firstname.lastname@example.org.
For more insights on electronic point of sale, you can download our full EPOS predictions report here.