Gone are the days when people from rural areas and remote areas had to come to the cities for buying goods and for banking. Thanks to digital technology, these services are now available in even the remotest areas of the country. In rural areas, people are now using technology to expand their small grocery stores and other retail stores.
With this, interest in digital payments in rural areas has increased. Retail POS brings many benefits to small retailers. But first, let us understand about POS system.
Understanding Point of Sale (POS) System
The point of sale (POS) is the time and place where a retail transaction is completed. At the point of sale, the merchant calculates the amount owed by the customer, indicates that amount, may prepare an invoice for the customer, and indicates the options for the customer to make a payment - in short, manages the complete retail management system of your business.
Purpose of a Point of Sale System
Secure Checkout System
In the rural context, more than fast, customers are looking for secured checkouts. The transaction system while making payments must be quick so that customers don’t have to stand in queues. A fast checkout system always helps customers to spend time shopping in spite of in queues.
Inventory Tracking
This is also one of the main purposes of the point of sale system to have complete information about products in inventory. It has complete information about products like which product in stock and which is in the critical stage this information helps in ordering easily to the vendors. This helps to save time for ordering and calculating the products.
Customers Data
POS maintains the information of customers based on their profile which helps them to understand the buying behaviour.
Mobility
Today everything is online so you must choose a system which offers you feature to access the business from anywhere. This is more suitable for the business which has more than one outlet.
Payment through AEPS or Debit card
The biggest advantage of POS is the ability of digital payments and the freedom to go cashless.
So these are some main purpose of point of sale system which makes it unique and essential for the rural business scenario. Businesses are increasingly adopting POS system due to these features which make easy to handle businesses anyways.
Benefits of Point of Sale (POS) System
● The complete process is digital, which eliminates human errors and helps to manage and tracking inventory in real-time.
● It helps to manage a number of items in stock in real-time, this helps to manage and prepare buffer stock.
● It can handle thousands of transaction due to its simplicity and fast checkout features.
● It allows to add promotions, coupons, and discount on the product, not need to process manually.
● It helps to save the time of customers in the queue and help them to eliminate time for checkout.
Fastpay Payments provides POS solutions and other forms of payment and banking solutions. Contact us for more details or for query in retailers or distributorship.
