Small Business Point-of-Sale Innovation
Local Businesses and Point-of-Sale Innovation
Over the last ten years, smartphones and tablets have fundamentally changed the way most people go about their daily lives. The basic ways we communicate, navigate, work and play are dramatically different, and most would agree, dramatically better. The local small business brick and mortar location, on the other hand, looks just about the same as it did one, or even two decades ago. Walk in to almost any small businesses, and you’ll encounter the same clunky, outdated payment terminal and cash register. Every so often you’ll find a merchant using a touchpad POS system, and if you find a really ‘cutting edge’ early adopter, there will be tablets strewn across their countertops so that customers can use a new age check-in or coupon/promotion system like Belly or Five Star.
Fundamentally though, things haven’t changed for the small business owner. The massive wave of innovation ushered in by mobile computing has yet to find its way to local business and we’re left with a wide gap between our mobile experiences and our local experiences. New technology is out of reach for most businesses. They struggle to adopt new technologies affordably, or they don’t have the wherewithal to hack their POS system, or they don’t have the patience for another standalone system. At the root of this broken infrastructure is the lack of an affordable, unified digital platform that securely integrates payments and embraces 3rd party development.
Unveiling the Poynt Smart Terminal
In the past year, Poynt has released one of the most important innovations that the payment industry has ever seen. Poynt is, in fact, a payment terminal just like the little blue and grey ones you see on the counter of every business in America (and over 100M of them installed around the world). But, more importantly, it is a computing device that can become the platform for everything digital within the local business. The Poynt Smart Terminal can do for Main Street what the smartphone has done for mobile. It will process payments, just like existing payment terminals do. It is a game changing technology that parallels the brilliant integration of the iPhone.
It will actually process payments far better than any existing terminal given its support of NFC, EMV, BLE and QR codes. But, the real power comes from the fact that Poynt has created a a secure computing device with 3rd party applications. This platform is the real competitive advantage for small businesses.
New Offerings on the Horizon
There is finally a smart terminal that can push forward an industry hamstrung by old, gray processing terminals. The integration channels include POS developers, merchant loyalty programs and a systematized business platform to build off.
Innovation for local business is long, long overdue. With the introduction of a smart payment terminal, the entire ecosystem stands to benefit. And, if this plays out anything like smartphones, we can’t even begin to imagine the innovation that is about to take place.