Anywhere Commerce: The Path to Removing the Walls of Retail with A mPOS Solution
Juniper Research studies state that the number of mobile point-of-sale (mPOS) transactions will triple from 2018 to 2023, which will equate to approx. one-fourth of all pointof-sale transactions. As the consumer demand for speedy, personalized and engaging on-site customer experiences grow, mPOS solutions are the path for removing the walls of brick and mortar check-out and creating streamlined anywhere commerce.
Evaluation and Steps to Consider
Now getting to the state of offering secure, real-time, anywhere mPOS solutions takes multiple points of consideration.
• Assessment your existing digital landscape and systems
• At GNC, we have over 4,000 corporate and franchise stores that encompass a variety of different digital, physical location and POS needs. In order to ensure that the store associates (GNC Coaches) are able to deliver on the desired customer experience there was an evaluation of domestic and international locations, processes, and in-store operations needs.
• Review of integration points and API requirements
• Your mPOS is an essential piece of your retail ecosystem. Integrations can include multiple systems such-as e-commerce, loyalty, digital receipts, Human Resources, pricing and promotions, tax, subscriptions, customer relationship management (CRM) tools and order inventory management (OMS) tools. At GNC, our enabled mPOS solution is designed to provide real-time integrated API connection to all of the services listed above which has removed legacy systems and unnecessary delays of batch processing.
• Ensuring the security and compliance of the payment gateway
• Payment security and customer data protection is always our top priority. By instantly encrypting the cardholder data with the mPOS cloud-based solution, we are removing the risk of data leaks since there is no local data storage occurring.
• Evaluation of vendor partnership opportunities and ongoing financial investment
• Technology investments are a great opportunity to leverage industry partnerships. Vendors and Partners are different relationships. A Vendor is transactional and doesn’t help drive strategy, where a Partner understands your business, roadmap and budget and helps to deliver the best solution with your allocated capital. By seeking out the best solutions on the market, and being creative in the contract agreements and implementation team responsibilities, GNC was able to go from concept to reality in just 14 weeks.
Additional Benefits of Moving to an mPOS Solution
Improving the customer experience in retail locations is frequently the key driver to the implementation of a mPOS solution, but there are many additional benefits of the mobile payment platform. Consider a reduction in human error, less paperwork, accurate real-time records, ease of collection of key customer information, on-site inventory checking, improvement of retail space use and the reduction of purchase abandonment just to name a few.
Delivering Technology to Meet Your Business Goals
Specifically, for GNC we met a primary goal of now being able to transact anywhere our customers are. The mPOS solution travels beyond typical retail locations and provides the opportunity for our Coaches to be selling in the field at onsite at events and in pop-up and temporary stores with much reduced cost in hardware and technology overhead. We have enabled the mPOS system to be more than just a device that transacts with Buy Online Pick up in Store (BOPIS), Ship from Store (BOSS), and Endless Isle all integrated in the technology. Our retail locations are now armed with the tools they need to deliver the brand-differentiating service our customers deserve.
mPOS solutions create the opportunity for your personnel to move away from the cash register and offer personalized service to your customers – wherever they may be.