Brief History of ePOS

TECHNOLOGY | BUSINESS | SMARTPHONES | EPOS

Electronic Point of Sale (EPOS) is efficient, forward thinking technology that enables payment for goods and services, as well as generating a whole host of useful data insights.

The ‘next generation’ systems are a relatively new technology; but represent an evolution of payment options in retail and other service sectors, along with integration with other mobile apps and software and the choice of devices.

So, where did it come from and how did we get to here?

The earliest cash registers or tills originated in the late 1800s, very ornate, heavily engineered works of art, which today mostly sit in museums or antique stores.

Varying electronic till systems have been around since the early 1970s; IBM being one of the biggest players and McDonalds; one of the first wide-scale adopters of computer run systems.

For many who think of till systems, often think of Casio and their giant calculators with cash boxes; for many small retailers perfect for their needs, until now.

How long until cashless payments make these redundant?

Touchscreen systems arrived in the mid-80s and we now have, in the Smartphone era; Cloud based systems that can be used remotely, run from a handheld device and function as an entire business operating system.

Giving the business owner; particularly those in retail and service or hospitality sectors full autonomy; changing products and menus at the touch of a button, instigating promotions; whilst knowing a great deal about their customers’ preferences and picking up on trends almost instantly.

This is the same highly effective analytical approach that e-commerce has developed and adopted over the last 20 years or so. (Which has almost destroyed our High Streets, so very powerful).

EPOSENSE® is one of the latest cloud-based system, designed to work with a wide-ranging number of Mobile apps including some of our own in-house developments, that have the capability of transforming the way for example, a Takeaway delivery business works.

Almost as big a leap in operational terms; the way businesses are run, the reduction in costs; compared to the most recent disruption to sales that Aggregator Platform Apps like Just Eat have achieved.

Businesses of all shapes and sizes do not realise the benefit of these ‘next generation‘ systems but will soon catch on quick, especially when customers demand or seek alternative payment options.

In fact, we are already seeing Cashless High Street operations in Cities in the UK.

Latest figures from the USA, project almost 55% adoption rate of cloud-based systems across the retail sector by 2022; driven mostly by the ability to provide Flexible & Mobile Payment options, Ease of Use, Functionality and Cost.

 

epos born inverted