In the fast-paced digital era, technology continues to reshape the way we do business and interact in our daily lives. Payments are undergoing a significant transformation. Gone are the days of clunky electronic terminals and their limited and isolated functionalities. With advancements in mPOS and smartPOS, and the widespread use of Android, SoftPOS, also known as ‘Software Point of Sale’, has emerged as a cutting-edge software-based payment acceptance method that is revolutionising the industry.
SoftPOS is not just a passing trend; it represents a game-changing opportunity for merchants across all market segments. This innovative payment solution offers a host of benefits for both the merchant and the end-user while ensuring compliance with strict current industry PCI standards – and the path for great opportunities does not end here.
With the growing availability of SoftPOS solutions, businesses can provide their customers an additional seamless, secure, and convenient way to make payments. This not only enhances the payment experience but also opens up new business opportunities for merchants of all sizes and markets.
Whether you're a retailer, a hospitality establishment, or even a player in the travel, mobility, or energy sectors, SoftPOS can seamlessly integrate into your business model. For example, SoftPOS allows you to rapidly increase the number of payment terminals in a retail shop to reduce the checkout time, a server in a restaurant can offer contactless payment options with the same device used to take the order, and in transportation, staff can easily sell tickets and collect fines with the same device used to control the passengers. The use cases are plentiful.
The compliance aspect of SoftPOS cannot be overstated. The Payment Card Industry Data Security Standard (PCI DSS) sets forth strict guidelines to protect sensitive cardholder information. SoftPOS solutions should specifically be designed to meet these standards (respectively CPoC and MPoC), ensuring secure transactions and protecting customer data. This compliance not only gives peace of mind to merchants but also instils confidence in customers, fostering trust and loyalty, especially when taping their code onto the device for purchases above the contactless limit. Although the CPoC standard has closed the door to unattended payment usages, the MPoC one opens the door to semi-attended use cases – and the market will surely explore these areas of business.
Apple’s appetite for financial services is no longer a secret; proof is the launch of Apple Pay in 2014, Apple card in 2019, and Apple Pay Later and saving accounts in 2023.
In 2022, Apple introduced its homemade SoftPOS solution called ‘Tap to Pay on iPhone’ in the US, which has expanded to Taiwan and Australia in 2023. This exciting development allows merchants from these regions to accept any contactless payments on their iPhone. As expected, the merchant will accept payments from customers’ iPhone and iWatch, and also from any bank card or other digital wallet, offering a seamless and secure payment experience. Apple’s renowned commitment to user experience ensures that merchants can effortlessly complete transactions, with just a tap from their customers.
The influence of Apple's SoftPOS solution goes beyond the iPhone itself. This development will most probably impact the whole industry, boosting the demand for similar solutions on Android devices.
For large merchants, SoftPOS presents unique advantages. In addition to cost savings and streamlined operations, it offers unparalleled scalability. Whether they have a single storefront or a vast network of locations, SoftPOS can seamlessly accommodate their business growth. With its flexible and customisable features, large merchants can easily integrate stock management, delivery, loyalty programmes, discounts, and promotional campaigns into the payment process, enhancing customer engagement and boosting sales.
Moreover, SoftPOS brings additional sales opportunities, transforming every employee into a salesman. It enables queue busting, assisted sales, pop-up stores, payment at delivery, payment at table, ticketing, etc. There are benefits for all user journeys!
Another significant benefit of SoftPOS for large merchants is the ability to gather valuable customer insights. By leveraging data analytics and reporting tools, businesses can gain a deeper understanding of consumer behaviour, preferences, and purchase patterns. This empowers merchants to tailor their offerings, optimise marketing strategies, and create personalised experiences that resonate with their target audience.
As a global leader in payments, Worldline has launched its unique end-to-end SoftPOS solution at the end of 2022 in Europe. Branded ‘Tap on Mobile’, this PCI-certified solution enables merchants of all sizes – from micro to large – to accept payments using smartphones (COTS), tablets, or enterprise devices.
Worldline has designed its solution to meet the specific needs of large merchants like app-to-app integration capacities, specific onboarding and support, as well as pricing. Worldline Tap on Mobile is a full-offer package that includes acceptance, acquiring, transactions, and device dashboards and management. Currently available in all major European countries, this Worldline solution will soon expand its reach to Australia.
The SoftPOS revolution is well underway, and the future of payments looks more promising than ever. By embracing SoftPOS solutions, large merchants across all market segments can unlock a world of new business opportunities.
Don't get left behind – tap into the future of payments and transform your business with SoftPOS today!
For more information, visit Worldline | Tap on Mobile.
Herve Thevenin has a comprehensive and diverse background in marketing encompassing various aspects such as field activities, services, products, branding, on local and international scale. His experience spans across multiple industries from car rental (Avis) and leasing industry (LeasePlan) to the high-tech industry latest with Epson. Recently, he graduated from IESEG Executive Post-Master programme in Marketing & Digital. Herve Thevenin is also a speaker and author (thesis in 2021 about mobile payment adoption in France).
Worldline helps businesses of all shapes and sizes to accelerate their growth journey – quickly, simply, and securely. With advanced payments technology, local expertise, and solutions customised for hundreds of markets and industries, Worldline powers the growth of over one million businesses around the world. Worldline generated EUR 4.4 billion in revenue in 2022.
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