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Point of Sale (POS)

PAYMENT STRATEGIES AT THE POINT OF SALE THE EVOLUTION OF THE POS SYSTEM The First Cash Register 1883- James Ritty patented the first cash register design. The first working, mechanical cash register was nicknamed the "Incorruptible Cashier." His invention came with that familiar bell sound referred to in advertising as "The bell heard round the world". Charles F. Kettering designed the first electric cash register. 1906 While working at the National Cash Register Company, Kettering designed a cash register with an electric motor. NCR Computer Based Barcode Readers The Bar code was first used 1970 - commercially in 1966, how- ever, it was soon realized that there would have to be some sort of industry standard set. By 1970, the Universal Grocery Products Identification Code or UGPIC was written by a company called Logicon Inc. " 23456 78999 The first company to produce bar code equipment for retail trade use was Monarch Marking in 1970. Gene Mosher first developed order entry POS Software - LATE 1980-9O'S Credit Card Processing began The first development of a color-graphical user interface and touch screen POS was with an Atari 520ST. POINT OF SALE (POS) TODAY - 93% Point of Sale purchases make up 93% of the total retail business in the U.S Total Retail POoS Purchases 2012. $3.98 TRILLION 2018. $4.2 TRILLION NEAR FUTURE Mobile POS or MPOS is expected to grow $5.4B 6 BILLION il 5 BILLION $3.6B 4 BILLION $2.4B 3 BILLION $1.6B 2 BILLION $0.07B $0.09B 1 BILLION 2013 2014 2015 2016 2017 2018 BY 2017, AN ESTIMATED 50% of all transactions will be completed via mPOS, self-checkout at a counter or on a shopper's mobile device. TOP COUNTRIES USING MOBILE PAYMENTS Kenya United States Canada South Korea Singapore Digital Wallets aim to get rid of cards and cash altogether. Digital wallets allow users to store virtual versions of nearly everything in their wallet directly into their device. Popular Digital Wallets Google wallet Apple Passbook L LemonWallet O Square PayPal wallet THINGS TO STORE IN DIGITAL WALLETS: JID Debit/Credit Cards MConcert/Plane/Movie tickets MVirtual Money 44 % OF RETAILERS are updating their POS and checkout strategies to take advantage of the exciting technologies available. Sources: http://www.mobilecommercedaily.com/mobile-payments-changing-the-game-for-retail-pos-javelin http://communities.motorolasolutions.com/community/ea/think_retail/blog/2013/06/20/44-of-retailers-are-changing-t heir-pos-strategy-are-you-one-of-them http://electronics.howstuffworks.com/google-wallet.htm http://www.hongkiat.com/blog/digital-wallets/ http://blog.gopayment.com/mobile/the-top-10-nations-for-mobile-payments/ SignalMind www.signalmind.com

Point of Sale (POS)

shared by VisualApogee on Apr 29
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From the first cash register in 1883 to today’s modern, mobile POS systems, we take an in-depth look at the evolution of all that is Point of Sale.

Publisher

SignalMind

Category

Computers
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