In the not-so-distant past, retailers saw a significant change in the way that consumers pay for items at their stores. Credit and debit cards hit the market, and soon they were prevalent everywhere. Now, another shift is on the horizon in the form of mobile payments, and to help accommodate all shoppers, merchants can greatly benefit from using retail point of sale software to effectively manage and process transactions.

VentureBeat reports that a study by Javelin Strategy and Research revealed that mobile payments are set to grow exponentially over the next few years as consumers begin to prefer using their smartphones and tablets to pay for retail merchandise. This trend is forecasted to occur both in brick-and-mortar locations as well as online platforms. The research estimates that in 2018, mobile payments could reach an approximate total of $1.1 trillion. Taking a look at these findings, retailers should act now to implement technology to accept a variety of payment methods, whether it's from credit and debit cards or mobile devices.

This is where point of sale software can significantly boost operations for companies. Besides being able to process several different payment forms and enhance customer satisfaction, merchants can also maintain control over their finances through the use of these software solutions. All of the elements related to accepting transactions are stored in one place, helping to improve efficiency. 

This entry was posted by Retail Pro on Thursday, May 2nd, 2013 at 7:12 am .