How SmartPOS devices are reinventing payments
David Gudjonsson, CEO of Handpoint, explains in a new whitepaper how PAX Technology’s super-capable, Android-based intelligent terminals are helping forward-thinking Merchant Service Providers (MSPs) reduce customer churn by enabling powerful, flexible solutions.
“From hardware to software: How smart POS devices are reinventing payments” can be downloaded at the link below, published by Handpoint in partnership with Payment Cards & Mobile.
Typically, around one quarter of all merchants switch their acquiring relationship from one year to the next, in pursuit of lower costs, viewing acquiring as a purely commodity service. This causes dramatic, cyclical effects on MSP income, making it hard to plan for growth as revenues and profits become unpredictable. The whitepaper explains why MSPs who wish to remain competitive and retain merchant loyalty in this day and age, must radically differentiate their strategic offering by providing new value-added point-of-sale solutions which help create steadier streams of profitable revenue.
Key factors driving change at the point of checkout are addressed, describing how merchants now expect their legacy terminals to be upgraded with more modern devices - in terms of design & functionality - which are able to not only accept any payment method seamlessly, but whose Android-based technology synchs with other business functions such as loyalty systems, billing, inventory & stock management, and logistics.
These SmartPOS devices combine secure payment acceptance with a vastly increased range of apps & services, strengthening MSP merchant retention because happy retailers build their business operations around the suite of applications offered by their MSP. In doing so, merchants will be less likely to switch acquiring relationships every year, which in turn will deliver a more consistent & profitable income stream to the MSP.
Handpoint explain that SmartPOS terminals such as the A-Series represent a quantum leap in terms of technology & functionality. Their modern form factor, portability, capacity for updates over the air, and ability to deliver innovative apps via PAXSTORE, empower merchants with modern smartphone-like solutions. Handpoint provides dedicated & feature-rich software on PAX terminals, a brandable solution which delivers maximum security, flexibility, and control. As merchants continue to embrace cashless digital payments, Handpoint’s solution on devices such as the PAX A920 represents a smarter choice for a smarter future.
PAX Technology is considered the leading Research & Development organization in the field of new-generation Android SmartPOS solutions, trusted by hundreds of leading acquiring banks, processors and payment service providers around the world. In 2020 alone, over 12 million PAX terminals were shipped to more than 120 countries.