A big shift in payment methods, palms lead smart POS emerged

In the field of mobile payment, there was no small wave at the end of 2015. Ma Yun’s “Double Twelve” promoted the development of the entire offline payment, and Alipay made a beautiful ending; UnionPay launched a high-profile “Cloud Flash Pay” to hold the thighs of Apple and Samsung, leaving behind the next year’s big sister. Thoughts; Apple Pay finally announced its entry into China, successfully occupying the headlines of major media. Under the turbulent payment battlefield, users are accepting new payment methods. Under this trend, the mobile Internet + smart pos industry, led by Palm POS Smart POS, has also begun to emerge in the mobile payment market.

Unlike traditional POS machines, the advantage of an intelligent POS machine is full payment. In addition to the card-swapping requirements of various bank cards, the smart POS also has a variety of payment methods such as scan code payment and NFC flash payment. After the customer purchases the goods, they can choose to pay in any way including UnionPay, WeChat, and Alipay. At the same time, merchants can also download O2O merchant version APPs such as Meituan and Volkswagen reviews on this terminal, and integrate the common group purchase discount portals of customers into a POS machine. Users can use coupon code to purchase, which can be completed with one click.

“The traditional POS + checkout mode has been unable to meet the consumer needs of current users and the management needs of merchants, and is likely to disappear in the next three years,” said a smart POS practitioner at a recent conference. The powerful integration capability, which can provide merchants with Internet-based solutions, will occupy the commanding heights. The emergence of smart POS is to say goodbye to the old era."

According to statistics, the current POS inventory of domestic POS is 16.42 million units, and it is increasing at a rate of 30% every year. After 5 years, it will reach 60 million units. Only the upgrade of equipment will create more than 90 billion market capacity, not to mention the new equipment for merchants in the later stage. After that, the long-term benefits created by the expanded online payment business and e-commerce business are roughly estimated to be no less than the trillion scale – enough to see the infinite prospects of the smart POS industry.

For this huge market, Su Kai, the founder of the smart POS industry, said: “Intelligent POS replaces traditional POS, just like the smart revolution of smart phones replacing traditional mobile phones. It is the inevitable change under the payment method. The market prospects also attract other companies to join, but the key to the smart POS market is whether there is data generation, how much data, not the traditional POS-like hardware sales. Payment transaction volume, card transaction volume, take-out orders It is an important and unique measure for smart POS companies and industries. There is no transaction data indicating that the merchants are not using them, and the description is not sticky, and such companies will be worthless."

It is foreseeable that the market share of smart POS will gradually expand next year and show explosive growth. This may be a supplement to the payment market, and it is more likely to gradually replace the traditional POS machine, but no matter what the result is, the same is true. In the face of this market change, all major POS manufacturers can only survive if they continue to transform.

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