{"id":5835,"date":"2022-01-28T08:33:45","date_gmt":"2022-01-28T03:03:45","guid":{"rendered":"https:\/\/cashfree.com\/blog\/?p=5835"},"modified":"2023-01-04T12:53:42","modified_gmt":"2023-01-04T07:23:42","slug":"epos","status":"publish","type":"post","link":"https:\/\/blogrevamp.cashfree.com\/epos\/","title":{"rendered":"Electronic Point of Sale (EPOS) &#8211; Taking Over The $9.3 Billion POS Market, One Merchant at a Time"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_81 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a8f51646b9f4\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #364250;color:#364250\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #364250;color:#364250\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a8f51646b9f4\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/blogrevamp.cashfree.com\/epos\/#What_Is_An_Electronic_Point_of_Sale_EPOS_System\" >What Is An Electronic Point of Sale (EPOS) System?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/blogrevamp.cashfree.com\/epos\/#What_Are_The_Functionalities_Of_Electronic_Point_Of_Sale_Systems\" >What Are The Functionalities Of Electronic Point Of Sale Systems?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/blogrevamp.cashfree.com\/epos\/#What_Are_The_Different_Types_Of_POS_Systems\" >What Are The Different Types Of POS Systems<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/blogrevamp.cashfree.com\/epos\/#How_Does_An_Electronic_Point_Of_Sale_System_Work\" >How Does An Electronic Point Of Sale System Work?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/blogrevamp.cashfree.com\/epos\/#Whats_An_Electronic_Point_Of_Sale_Till_System\" >What\u2019s An Electronic Point Of Sale Till System?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/blogrevamp.cashfree.com\/epos\/#What_Are_The_Benefits_of_EPOS_Systems\" >What Are The Benefits of EPOS Systems?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/blogrevamp.cashfree.com\/epos\/#Promise_of_SoftPOS-_The_Modern_Electronic_Point_Of_Sale_System\" >Promise of SoftPOS- The Modern Electronic Point Of Sale System<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/blogrevamp.cashfree.com\/epos\/#EPOS_Enabling_Digital_Payments_in_Offline_Spaces\" >EPOS: Enabling Digital Payments in Offline Spaces<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/blogrevamp.cashfree.com\/epos\/#3_Common_Mistakes_To_Avoid_While_Buying_Electronic_Point_Of_Sale_Systems\" >3 Common Mistakes To Avoid While Buying Electronic Point Of Sale Systems<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/blogrevamp.cashfree.com\/epos\/#4_Challenges_Pertaining_To_Use_Of_Electronic_Point_Of_Sale_Systems_In_India\" >4 Challenges Pertaining To Use Of Electronic Point Of Sale Systems In India<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/blogrevamp.cashfree.com\/epos\/#Explaining_softPOS_Systems_by_Cashfree_Payments\" >Explaining softPOS Systems by Cashfree Payments<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/blogrevamp.cashfree.com\/epos\/#How_To_Accept_Payments_Using_softPOS_By_Cashfree_Payments\" >How To Accept Payments Using softPOS By Cashfree Payments<\/a><\/li><\/ul><\/nav><\/div>\n\n<p class=\"wp-block-paragraph\"><em>In this post, we\u2019ll touch base on what an electronic point of sale (EPOS) system is, how it works, the key benefits it offers to various players.<\/em><\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<p class=\"wp-block-paragraph\">The electronic point of sale (EPOS) systems are taking over the <a href=\"https:\/\/financesonline.com\/pos-statistics\/\" rel=\"nofollow\">$9.3 billion POS market<\/a> by storm.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A bold claim, however, many latest industry reports back it up.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For instance, as per Forbes, nearly <a href=\"https:\/\/www.forbes.com\/sites\/forbestechcouncil\/2018\/05\/25\/what-is-cloud-point-of-sale-and-how-is-it-different-from-traditional-pos\/?sh=237c27011180\" rel=\"nofollow\">61% of businesses<\/a> aim to shift to a cloud-based POS system in the coming future. At the same time, <a href=\"https:\/\/reformingretail.com\/index.php\/2018\/08\/28\/have-we-reached-peak-legacy-pos\/\" rel=\"nofollow\">60% of all retailers<\/a> prefer EPOS over traditional POS systems as they\u2019re cost-effective, simple-to-use, flexible, and highly functional.<\/p>\n\n\n\n<div data-tf-widget=\"R0Vday9Q\" data-tf-iframe-props=\"title=softPOS Interest Form\" data-tf-medium=\"snippet\" style=\"width:100%;height:400px;\"><\/div><script src=\"\/\/embed.typeform.com\/next\/embed.js\"><\/script>\n\n\n\n<p class=\"wp-block-paragraph\">However, there\u2019s more to using electronic point of sale systems than this.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Let\u2019s dive deep and find out ourselves.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Starting with the very basic questions &#8211; what electronic point of sale system is suited for today\u2019s day and age?<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_Is_An_Electronic_Point_of_Sale_EPOS_System\"><\/span>What Is An Electronic Point of Sale (EPOS) System?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">An electronic point of sale (EPOS) system is a new-age payment acceptance machine that:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Enables quick and smooth flow of transactions between terminals<\/li>\n\n\n\n<li>Helps accept payments using new-age digital payment methods. These include cards, UPI, QR scans, payment links and more<\/li>\n\n\n\n<li>Serve as an excellent alternative to a physical point of sale machines.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">With electronic point of sale systems, any merchant can start accepting payments by simply <strong>downloading an EPOS app on an NFC-enabled device<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The application instantly converts the merchant\u2019s device into a point of sale machine. This eliminates the need to buy and maintain a hefty hardware like in the case of a traditional POS system.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Moreover, <a href=\"https:\/\/blogrevamp.cashfree.com\/digitizing-pos-payments\/?utm_source=blog&amp;utm_medium=organic&amp;utm_campaign=epos\">electronic point of sale systems<\/a> offers the instant gratification that modern buyers seek.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">They\u2019ve also helped a large part of the Indian retail community, especially the MSMEs, to get back on their feet post the COVID-19 pandemic depression.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Please note, the terms EPOS and softPOS are used interchangeably. Their meaning and functionality remain the same.&nbsp;&nbsp;<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_Are_The_Functionalities_Of_Electronic_Point_Of_Sale_Systems\"><\/span>What Are The Functionalities Of Electronic Point Of Sale Systems?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Electronic point of sale is an <strong>excellent combination of hardware and software<\/strong> that make payment acceptance easy, effective, and efficient.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img data-recalc-dims=\"1\" fetchpriority=\"high\" decoding=\"async\" width=\"770\" height=\"399\" data-attachment-id=\"9819\" data-permalink=\"https:\/\/blogrevamp.cashfree.com\/epos\/key-statistics\/\" data-orig-file=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/Key-Statistics.png?fit=1080%2C559&amp;ssl=1\" data-orig-size=\"1080,559\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Key-Statistics\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/Key-Statistics.png?fit=770%2C399&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/Key-Statistics.png?resize=770%2C399&#038;ssl=1\" alt=\"Key statistics showing increase in payments at PoS terminals \" class=\"wp-image-9819\" srcset=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/Key-Statistics.png?resize=1024%2C530&amp;ssl=1 1024w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/Key-Statistics.png?resize=300%2C155&amp;ssl=1 300w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/Key-Statistics.png?resize=768%2C398&amp;ssl=1 768w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/Key-Statistics.png?w=1080&amp;ssl=1 1080w\" sizes=\"(max-width: 770px) 100vw, 770px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Moreover, unlike traditional till systems with limited functionalities, electronic point of sale systems come with many advanced features. These include,<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Quickly accepting payments and returns<\/li>\n\n\n\n<li>Generating receipts in real-time<\/li>\n\n\n\n<li>Storing and processing payment information<\/li>\n\n\n\n<li>Generating detailed purchase reports<\/li>\n\n\n\n<li>Managing business inventory<\/li>\n\n\n\n<li>Offering discounts and promotions<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image size-large\"><img data-recalc-dims=\"1\" decoding=\"async\" width=\"770\" height=\"353\" data-attachment-id=\"9822\" data-permalink=\"https:\/\/blogrevamp.cashfree.com\/epos\/advanced-electronic-point-of-sale-features\/\" data-orig-file=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/Advanced-electronic-point-of-sale-features.png?fit=1080%2C496&amp;ssl=1\" data-orig-size=\"1080,496\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Advanced-electronic-point-of-sale-features\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/Advanced-electronic-point-of-sale-features.png?fit=770%2C353&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/Advanced-electronic-point-of-sale-features.png?resize=770%2C353&#038;ssl=1\" alt=\"Advanced electronic point of sale features\" class=\"wp-image-9822\" srcset=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/Advanced-electronic-point-of-sale-features.png?resize=1024%2C470&amp;ssl=1 1024w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/Advanced-electronic-point-of-sale-features.png?resize=300%2C138&amp;ssl=1 300w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/Advanced-electronic-point-of-sale-features.png?resize=768%2C353&amp;ssl=1 768w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/Advanced-electronic-point-of-sale-features.png?w=1080&amp;ssl=1 1080w\" sizes=\"(max-width: 770px) 100vw, 770px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Retailers can even connect electronic point of sale systems to other devices such as:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Mobile phones<\/li>\n\n\n\n<li>Tablets<\/li>\n\n\n\n<li>Barcode scanners<\/li>\n\n\n\n<li>Receipt printers<\/li>\n<\/ol>\n\n\n\n<p class=\"wp-block-paragraph\">This way, they can customise their functionality to suit their individual business needs.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Best of all, electronic point of sale systems ensures that all business transactions stay organised.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Everything is automatically stored in a chronological manner, enabling retailers to generate custom reports to analyse sales and take future business decisions.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_Are_The_Different_Types_Of_POS_Systems\"><\/span>What Are The Different Types Of POS Systems<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Usually, <strong>three types of point of sale systems<\/strong> are used by merchants in today\u2019s time.<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Physical POS systems<\/li>\n\n\n\n<li>mPOS systems<\/li>\n\n\n\n<li><a href=\"https:\/\/blogrevamp.cashfree.com\/soft-pos\/?utm_source=blog&amp;utm_medium=organic&amp;utm_campaign=epos\">SoftPOS<\/a>\/EPOS systems.<\/li>\n<\/ol>\n\n\n\n<p class=\"wp-block-paragraph\">While the basic functionality remains the same, they differ in terms of tech and development.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><\/td><td><strong>Physical POS<\/strong><\/td><td><strong>mPOS<\/strong><\/td><td><strong>softPOS<\/strong><\/td><\/tr><tr><td><strong>Requirements for Payment Acceptance<\/strong><\/td><td>Requires a physical terminal to commence payment collection<\/td><td>Requires a smartphone, a POS application and a card reader to accept payments<\/td><td>Requires an NFC-enabled smartphone and an application to collect payments<\/td><\/tr><tr><td><strong>Is it Hardware or Software?&nbsp;<\/strong><\/td><td>Hardware<\/td><td>Hardware<\/td><td>Software<\/td><\/tr><tr><td><strong>Hardware Requirements<\/strong><\/td><td>Physical Terminal&nbsp;<\/td><td>EMV enabled device (usually called the card reader)&nbsp;<\/td><td>ZERO hardware requirements<\/td><\/tr><tr><td><strong>Installation Requirements<\/strong><\/td><td>Need for additional hardware and proper installation<\/td><td>Need for additional hardware, but installation is simple<\/td><td>No need for additional hardware or installation<\/td><\/tr><tr><td><strong>Purchase Cost<\/strong><\/td><td>High purchase and installation cost<\/td><td>Comparatively lower purchase and installation cost<\/td><td>Negligible purchase and installation cost<\/td><\/tr><tr><td><strong>Maintenance Cost<\/strong><\/td><td>High on maintenance and upgradation cost<\/td><td>Comparatively easy to maintenance and upgradation cost<\/td><td>Very easy to maintain and no upgradation cost<\/td><\/tr><tr><td><strong>Customisation<\/strong><\/td><td>Custom-creating such systems is not easy<\/td><td>Adding customisations is possible, to an extend<\/td><td>Highly customisable in nature<\/td><\/tr><tr><td><strong>Data Storage<\/strong><\/td><td>Transactional data stored at the site of the cash register<\/td><td>Cloud Technology<\/td><td>Cloud Technology<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_Does_An_Electronic_Point_Of_Sale_System_Work\"><\/span>How Does An Electronic Point Of Sale System Work?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The traditional point of sale systems were simple cash registers that were created to prevent\/reduce pilferage.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Many advancements in technology and the introduction of new modes of payments encouraged the inception of cloud-based POS systems. They are known to be:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Increasingly sophisticated and highly versatile<\/li>\n\n\n\n<li>Customizable depending upon business needs<\/li>\n\n\n\n<li>Comparatively cheaper&nbsp;<\/li>\n\n\n\n<li>Feature-rich and easy-to-use<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh3.googleusercontent.com\/Qcpt3mHa9o-gm3JkMDxsGwoCZWif_H7AtuzdR3J6n5rWZltenLLzbAGqsKd3duUQHoNwDVkDhGwQRyUILZAYx-McUsOpXvStMYw3jloXcLI6lnZFTjX0svDl9Cw9ROK9STy6ahjHT5zx1hc7pw\" alt=\"\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Besides these, modern point of sale systems also helps merchants capture customer information that helps them analyse many critical business metrics.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">What\u2019s more, new electronic point of sale systems can be squeezed into small,<strong> pocket-sized hardware such as smartphones<\/strong>. These come in handy for merchants and save POS costs as well.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">On top of this large retailers, such as supermarkets, can link electronic POS systems to:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Barcode scanners<\/li>\n\n\n\n<li>Touchscreen input<\/li>\n\n\n\n<li>Weighing scales<\/li>\n<\/ol>\n\n\n\n<p class=\"wp-block-paragraph\">On the other hand, small retailers, such as grocery shop owners or mini cafes can integrate these EPOS systems with their existing ERPs.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Whats_An_Electronic_Point_Of_Sale_Till_System\"><\/span>What\u2019s An Electronic Point Of Sale Till System?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Electronic point of sale systems have advanced with time. However, they still serve the same functions as the traditional cash registers.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, they offer <strong>higher functionality at lower costs.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A monitor, tablet, or any terminal is critical to processing purchases and accept payments. This is where all the essential checkout functions take place.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The only difference is that, unlike traditional tills, the terminals of the new electronic point of sale system is linked to a powerful software enabling better functionality.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Given below is a visual representation of traditional versus contemporary point of sale systems.&nbsp;&nbsp;<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img data-recalc-dims=\"1\" decoding=\"async\" width=\"512\" height=\"512\" data-attachment-id=\"9825\" data-permalink=\"https:\/\/blogrevamp.cashfree.com\/epos\/traditional-vs-contemporary-pos-system\/\" data-orig-file=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/traditional-vs-contemporary-POS-system.png?fit=512%2C512&amp;ssl=1\" data-orig-size=\"512,512\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"traditional-vs-contemporary-POS-system\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/traditional-vs-contemporary-POS-system.png?fit=512%2C512&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/traditional-vs-contemporary-POS-system.png?resize=512%2C512&#038;ssl=1\" alt=\"Traditional vs Contemporary POS System\" class=\"wp-image-9825\" srcset=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/traditional-vs-contemporary-POS-system.png?w=512&amp;ssl=1 512w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/traditional-vs-contemporary-POS-system.png?resize=300%2C300&amp;ssl=1 300w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/traditional-vs-contemporary-POS-system.png?resize=150%2C150&amp;ssl=1 150w\" sizes=\"(max-width: 512px) 100vw, 512px\" \/><\/figure>\n<\/div>\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_Are_The_Benefits_of_EPOS_Systems\"><\/span>What Are The Benefits of EPOS Systems?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Unlike their traditional counterparts, contemporary EPOS systems offer several long-term benefits to retailers. Some of these are as follows:<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh6.googleusercontent.com\/2up1HWdPk7cis04_LSf12pZaGlCRikrgxdRLubcL91bzhI-8hOAH1wHk-MYbr9hQSkpZU6qkgxnOhaVFH43skaH3_OyYCDuxbbXy4cvSjiYqrLyzcOSkwSgHpUCgfxDVmjHy7Yo_kOWn8PE6qQ\" alt=\"\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">In a time when businesses of all types and sizes are recovering from the aftermath of the COVID-19 pandemic and trying to save as much money as they can, electronic point of sale systems serves as a long-term cost-saving investment.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Electronic point of sale systems can help,&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Generate noticeable savings on accounting<\/li>\n\n\n\n<li>Increase stock control efficiency<\/li>\n\n\n\n<li>Serve as a database curator to analyse customers and their behaviours<\/li>\n<\/ul>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"673\" height=\"1024\" data-attachment-id=\"9828\" data-permalink=\"https:\/\/blogrevamp.cashfree.com\/epos\/3-key-pos-trends-you-should-know\/\" data-orig-file=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/3-key-PoS-trends-you-should-know.png?fit=1080%2C1643&amp;ssl=1\" data-orig-size=\"1080,1643\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"3-key-PoS-trends-you-should-know\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/3-key-PoS-trends-you-should-know.png?fit=673%2C1024&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/3-key-PoS-trends-you-should-know.png?resize=673%2C1024&#038;ssl=1\" alt=\"Key pos trends you should know in India\" class=\"wp-image-9828\" srcset=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/3-key-PoS-trends-you-should-know.png?resize=673%2C1024&amp;ssl=1 673w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/3-key-PoS-trends-you-should-know.png?resize=197%2C300&amp;ssl=1 197w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/3-key-PoS-trends-you-should-know.png?resize=768%2C1168&amp;ssl=1 768w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/3-key-PoS-trends-you-should-know.png?resize=1010%2C1536&amp;ssl=1 1010w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/3-key-PoS-trends-you-should-know.png?w=1080&amp;ssl=1 1080w\" sizes=\"(max-width: 673px) 100vw, 673px\" \/><\/figure>\n<\/div>\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Promise_of_SoftPOS-_The_Modern_Electronic_Point_Of_Sale_System\"><\/span>Promise of SoftPOS- The Modern Electronic Point Of Sale System<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The market today is swamped with options.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Many even offer customizations and POS APIs which allow point of sale systems to integrate with different fintech products.&nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, at the end of the day, everyone needs a point of sale system that\u2019s handy, efficient and user friendly.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">softPOS is one such capability-enabled POS device for the Indian merchant market.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><a href=\"https:\/\/blogrevamp.cashfree.com\/soft-pos\/?utm_source=blog&amp;utm_medium=organic&amp;utm_campaign=epos_blog\"><img decoding=\"async\" src=\"https:\/\/lh3.googleusercontent.com\/TXoAhsFY8dyzp1YI7iWIB9LGdgC7EsH9d0r7Nm7kvu_zlJdPfIw0MjpilOR9Z0oUVFm-RxGbtaEcSpBhW_M8qMspai6llfBbOl6wIG6iiZG-tK1QKWeL2FYxI4crx4yzOr_5R495THTC8Y1CKg\" alt=\"\"\/><\/a><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">In fact, SoftPOS is often dubbed as the <strong>modern electronic point of sale system<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It aims to offer a solution that provides freedom from external hardware integrations and serves as a perfect one-size-fits-all solution for all merchants.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Listed below are some benefits that softPOS will offer to various industry stakeholders.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Small and Medium Businesses (SMBs)<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">SoftPOS can enable small and medium businesses to:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Reduce turnaround time<\/li>\n\n\n\n<li>Enable digital and contactless payments&nbsp;<\/li>\n\n\n\n<li>Dilute the attached costs&nbsp;<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Small and medium businesses like Kirana stores, brick-and-mortar stores, freelancers, NGOs, etc. have suffered hugely in terms of reduced footfall. This was due to the outbreak of the COVID-19 pandemic and its after-shocks.&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Since these businesses have smaller budgets, softPOS will serve as an excellent solution to easily and easily accept low ticket-size online payments.&nbsp;&nbsp;<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"512\" height=\"456\" data-attachment-id=\"9831\" data-permalink=\"https:\/\/blogrevamp.cashfree.com\/epos\/new-role-of-softpos\/\" data-orig-file=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/new-role-of-softPOS.png?fit=512%2C456&amp;ssl=1\" data-orig-size=\"512,456\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"new-role-of-softPOS\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/new-role-of-softPOS.png?fit=512%2C456&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/new-role-of-softPOS.png?resize=512%2C456&#038;ssl=1\" alt=\"New role of smart POS in India\" class=\"wp-image-9831\" srcset=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/new-role-of-softPOS.png?w=512&amp;ssl=1 512w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/new-role-of-softPOS.png?resize=300%2C267&amp;ssl=1 300w\" sizes=\"(max-width: 512px) 100vw, 512px\" \/><figcaption class=\"wp-element-caption\"><a href=\"https:\/\/events.cashfree-mail.com\/soft-pos-whitepaper\">Image Source<\/a><\/figcaption><\/figure>\n<\/div>\n\n\n<h3 class=\"wp-block-heading\">Retail Businesses<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Some examples of retail businesses are supermarkets, grocery stores, electronic and hardware stores, etc.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">They have to constantly keep a track of their inventory, online and offline orders, inflow and outflow of payments, etc.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Manually managing such activities is highly cumbersome.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Here, the modern electronic point of sale system shows a way out.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">SoftPOS enables retailers to conduct all business-related critical activities through this handy solution.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Using the softPOS system, retailers will be able to:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Manage inventory<\/li>\n\n\n\n<li>Track sales across various online and offline channels<\/li>\n\n\n\n<li>Print bills and labels&nbsp;&nbsp;<\/li>\n\n\n\n<li>Reconcile accounts&nbsp;<\/li>\n\n\n\n<li>Generate sales reports<\/li>\n\n\n\n<li>Gain insights into the performance of the business<\/li>\n\n\n\n<li>Accept payment via multiple payment modes including cards, UPI, QR scan, payment links, etc.&nbsp;<\/li>\n\n\n\n<li>Provide credit-based payment options such as buy now, pay later, EMIs, etc.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">With softPOS, retailers can also accept hasslefree cashless payments without incurring any additional cost on hardware.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Resultantly, they can commence day-to-day business activities effectively and efficiently.&nbsp;&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Restaurants<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Different types of restaurants have different needs.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">These needs extend to POS systems as well.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For instance, a food court may require a self-service kiosk with an easy <a href=\"https:\/\/cashfree.com\/blog\/payment-systems-for-ecommerce\/?utm_source=blog&amp;utm_medium=organic&amp;utm_campaign=epos\">payment system<\/a>.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Meanwhile, a high-end restaurant may want to manage orders and integrate the same with kitchen displays.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">softPOS systems cater to all such specific needs. It offers a simple and convenient way for all types and sizes of restaurants to bring mobility to their business, especially in terms of payments.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">softPOS also serve an amazing solution for food trucks, cloud kitchens, makeshift food outlets, etc.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Some exclusive solutions that softPOS systems offers are as follows.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Customisable solution<\/li>\n\n\n\n<li>Manage pricing, special offers, happy hour discountings, etc.<\/li>\n\n\n\n<li>Customer management, reservations, etc.&nbsp;<\/li>\n\n\n\n<li>Employee management and scheduling<\/li>\n\n\n\n<li>Reports and analysis<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Service-based Businesses<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Service-based businesses ideally comprise entertainment, beauty, and wellness services. The primary focus of such businesses is to&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Manage and schedule appointments<\/li>\n\n\n\n<li>Provide service details via kiosks along with self-checkout&nbsp;<\/li>\n\n\n\n<li>Offer on-floor payments<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">With an increase in at-home services such as beauty treatments, food delivery, medicine delivery etc.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">SoftPOS helps such businesses by offering portable and easy-to-use payment accepting solutions.&nbsp;&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Delivery Agents<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">While the at-home deliveries have exponentially increased since the outbreak of the COVID-19 pandemic, a major chunk of orders have also not been processed due to payment in cash.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Many delivery agents refused to accept cash as a precautionary measure.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Now, delivery agents could easily download modern electronic point of sale system apps on their smartphones and efficiently collect payments.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This will not only help delivery agents keep themselves protected from virus transmission but also benefits the businesses to lower costs and process more orders.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Delivery agents can simply ask the customer to scan a QR code or send a payment link via softPOS to their registered mobile number to complete the transaction.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/blogrevamp.cashfree.com\/soft-pos?utm_source=blog&amp;utm_medium=organic&amp;utm_campaign=epos\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"770\" height=\"68\" data-attachment-id=\"9847\" data-permalink=\"https:\/\/blogrevamp.cashfree.com\/epos\/cta-epos\/\" data-orig-file=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/CTA-Epos.png?fit=1080%2C96&amp;ssl=1\" data-orig-size=\"1080,96\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"CTA-Epos\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/CTA-Epos.png?fit=770%2C68&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/CTA-Epos-1024x91.png?resize=770%2C68&#038;ssl=1\" alt=\"\" class=\"wp-image-9847\" srcset=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/CTA-Epos.png?resize=1024%2C91&amp;ssl=1 1024w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/CTA-Epos.png?resize=300%2C27&amp;ssl=1 300w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/CTA-Epos.png?resize=768%2C68&amp;ssl=1 768w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/CTA-Epos.png?w=1080&amp;ssl=1 1080w\" sizes=\"(max-width: 770px) 100vw, 770px\" \/><\/a><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"EPOS_Enabling_Digital_Payments_in_Offline_Spaces\"><\/span>EPOS: Enabling Digital Payments in Offline Spaces<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Here\u2019s a view of how the new smart electronic point of sale systems work in India.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Reserve Bank of India recently announced the launch of a new framework under its digital payments umbrella &#8211; <a href=\"https:\/\/cashfree.com\/blog\/offline-digital-payments\/?utm_source=blog&amp;utm_medium=organic&amp;utm_campaign=epos\">offline digital payments<\/a>.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Under this framework, the citizens of India will now be able to make small value digital payments in the offline mode. Individuals can,&nbsp;&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Make digital payments even with no internet or telecom connectivity<\/li>\n\n\n\n<li>Use payment instruments or channels like cards, wallets, or mobile devices to make digital payments in offline mode<\/li>\n\n\n\n<li>Make payments of up to INR 200 per transaction and INR 2000 per instrument until the balance runs out.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Here, electronic point of sale systems can turn offline or COD orders into online orders using QR codes\/payment links.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Moreover, they can:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Enable accepting payments via multiple offline payment instruments&nbsp;<\/li>\n\n\n\n<li>Record transactions and print receipts<\/li>\n\n\n\n<li>Send signals\/intimations to banks\/issuers indicating the merchant credits and consumer debits&nbsp;<\/li>\n\n\n\n<li>Send transaction messages to consumers when they\u2019re in online mode.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">To say, the new electronic point of sale systems are serving as the backbone for the RBI, helping to facilitate such innovative payment methods.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Esystems are making it simpler and more convenient for merchants and consumers to transact today than almost half-a-decade ago.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"770\" height=\"548\" data-attachment-id=\"9833\" data-permalink=\"https:\/\/blogrevamp.cashfree.com\/epos\/india-pos-terminals-market-in-tier-one-cities\/\" data-orig-file=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/India-PoS-terminals-market-in-tier-one-cities.png?fit=1080%2C769&amp;ssl=1\" data-orig-size=\"1080,769\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"India-PoS-terminals-market-in-tier-one-cities\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/India-PoS-terminals-market-in-tier-one-cities.png?fit=770%2C548&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/India-PoS-terminals-market-in-tier-one-cities.png?resize=770%2C548&#038;ssl=1\" alt=\"Indian POS terminal market in tier-one cities\" class=\"wp-image-9833\" srcset=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/India-PoS-terminals-market-in-tier-one-cities.png?resize=1024%2C729&amp;ssl=1 1024w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/India-PoS-terminals-market-in-tier-one-cities.png?resize=300%2C214&amp;ssl=1 300w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/India-PoS-terminals-market-in-tier-one-cities.png?resize=768%2C547&amp;ssl=1 768w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/India-PoS-terminals-market-in-tier-one-cities.png?w=1080&amp;ssl=1 1080w\" sizes=\"(max-width: 770px) 100vw, 770px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"3_Common_Mistakes_To_Avoid_While_Buying_Electronic_Point_Of_Sale_Systems\"><\/span>3 Common Mistakes To Avoid While Buying Electronic Point Of Sale Systems<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">While we\u2019ve been heavily vouching about the advantages of why merchants must use an electronic point of sale system. It\u2019s equally important to choose the right EPOS system that proves beneficial in the long run.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Listed below are three common mistakes to avoid while buying an electronic point of sale system.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"770\" height=\"246\" data-attachment-id=\"9845\" data-permalink=\"https:\/\/blogrevamp.cashfree.com\/epos\/common-mistakes-to-avoid-when-buying-an-epos-system\/\" data-orig-file=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/Common-mistakes-to-avoid-when-buying-an-ePoS-system.png?fit=1080%2C345&amp;ssl=1\" data-orig-size=\"1080,345\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Common-mistakes-to-avoid-when-buying-an-ePoS-system\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/Common-mistakes-to-avoid-when-buying-an-ePoS-system.png?fit=770%2C246&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/Common-mistakes-to-avoid-when-buying-an-ePoS-system.png?resize=770%2C246&#038;ssl=1\" alt=\"common mistakes to avoid when buying an ePOS system\" class=\"wp-image-9845\" srcset=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/Common-mistakes-to-avoid-when-buying-an-ePoS-system.png?resize=1024%2C327&amp;ssl=1 1024w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/Common-mistakes-to-avoid-when-buying-an-ePoS-system.png?resize=300%2C96&amp;ssl=1 300w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/Common-mistakes-to-avoid-when-buying-an-ePoS-system.png?resize=768%2C245&amp;ssl=1 768w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/Common-mistakes-to-avoid-when-buying-an-ePoS-system.png?w=1080&amp;ssl=1 1080w\" sizes=\"(max-width: 770px) 100vw, 770px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Not Knowing Your Business Needs<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Modern electronic point of sale systems are more than just instruments to accept payments.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Many come equipped with various contemporary functionalities that help carry out critical business tasks easily. For instance,<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Tracking sales and get access to critical business information<\/li>\n\n\n\n<li>Managing inventory using the POS machine itself<\/li>\n\n\n\n<li>Automating information collection process<\/li>\n\n\n\n<li>incorporating discounting system in the machine&nbsp;<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">While choosing an electronic point of sale system, make a note of the functionalities essential to your business.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Once done, you\u2019ll be able to quickly decide the kind of EPOS system your business needs.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You can also ask for demos from EPOS service providers to understand the instrument\u2019s functionalities and get customisations done accordingly.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Buying The Cheapest Option<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">This is another common mistake that most merchants make irrespective of the type and size of their business.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Especially if they\u2019re a first-time user.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">They believe that buying a cheaper option is always better<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>To understand the basic use-case of a device<\/li>\n\n\n\n<li>Because it goes easy on the pocket<\/li>\n\n\n\n<li>Because it may be easier to understand than the expensive counterparts.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Why does this mentality needs to change?<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">While low price electronic point of sale systems look enticing, they come with <strong>many hidden costs.<\/strong> This includes constant software updates, need for additional hardware support, and so on.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">We\u2019re not vouching for you to buy an expensive EPOS system. Rather make a smart decision. Find an electronic point of sale system that:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Fits your business needs&nbsp;<\/li>\n\n\n\n<li>Offers all the basic functionalities your business expects&nbsp;<\/li>\n\n\n\n<li>Doesn\u2019t make a hole in your pocket&nbsp;<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">SoftPOS by Cashfree Payments is an excellent option to choose from.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In fact, it is equipped with many modern business functionalities and doesn\u2019t need any external hardware to support the POS system.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><a href=\"https:\/\/blogrevamp.cashfree.com\/soft-pos\/?utm_source=blog&amp;utm_medium=organic&amp;utm_campaign=epos_blog\"><img decoding=\"async\" src=\"https:\/\/lh4.googleusercontent.com\/UKZVoQQ3-R0OsFQ95yqU1NFFBwokkhSfPS3wRp7rkUKtG1JTCHwOqWuahF_StmujqRTEvykwWIcs5KDzUXxv6buGZnGnh6sZNy9sOXC-l3akXuzHVrgLCHQlQplD2WPN4-Hnj8Pdw6cOtp4eGA\" alt=\"\"\/><\/a><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><em>Related Read &#8211;<\/em><\/strong><em> <\/em><a href=\"https:\/\/events.cashfree-mail.com\/soft-pos-whitepaper\"><em>Supporting digital payments adoption via the promise of softPoS<\/em><\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Not Doing Due Diligence<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Third on the list of not doing proper due diligence &#8211; neither the product nor the seller.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Before finalising a product, ask yourself a couple of questions.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Does your Esystem accept payments in all popular payment modes?<\/li>\n\n\n\n<li>Will the payments be secure? Is your EPOS provider PCI-compliant?<\/li>\n\n\n\n<li>What are the industry segments that the company caters to?<\/li>\n\n\n\n<li>What kind of after-sales services does the company offer &#8211; technical assistance, support, training, etc.?&nbsp;<\/li>\n\n\n\n<li>Are there any case studies to refer to understand whether or not your selected sPOS system is effective?&nbsp;&nbsp;&nbsp;&nbsp;<\/li>\n\n\n\n<li>Does your EPOS provider provide a unified payments system? Do they offer a dashboard, <a href=\"https:\/\/cashfree.com\/blog\/reconciling-your-payment\/?utm_source=blog&amp;utm_medium=organic&amp;utm_campaign=epos\">reconciliation<\/a> services, <a href=\"https:\/\/cashfree.com\/blog\/payment-aggregator\/?utm_source=blog&amp;utm_medium=organic&amp;utm_campaign=epos\">payment aggregator<\/a> features and more?<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Bottom line: don\u2019t forget to do your research before investing into a payment system.&nbsp;&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"4_Challenges_Pertaining_To_Use_Of_Electronic_Point_Of_Sale_Systems_In_India\"><\/span>4 Challenges Pertaining To Use Of Electronic Point Of Sale Systems In India<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Electronic point of sale systems are an extraordinary invention.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">They\u2019ve practically changed the entire payment acceptance game at merchant level.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, even such remarkable inventions come with many challenges.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Here is a bird\u2019s eye view of those challenges.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"770\" height=\"386\" data-attachment-id=\"9836\" data-permalink=\"https:\/\/blogrevamp.cashfree.com\/epos\/electronic-point-of-sale-challenges\/\" data-orig-file=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/Electronic-point-of-sale-challenges.png?fit=1080%2C541&amp;ssl=1\" data-orig-size=\"1080,541\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Electronic-point-of-sale-challenges\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/Electronic-point-of-sale-challenges.png?fit=770%2C386&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/Electronic-point-of-sale-challenges.png?resize=770%2C386&#038;ssl=1\" alt=\"electronic point of sale challenges\" class=\"wp-image-9836\" srcset=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/Electronic-point-of-sale-challenges.png?resize=1024%2C513&amp;ssl=1 1024w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/Electronic-point-of-sale-challenges.png?resize=300%2C150&amp;ssl=1 300w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/Electronic-point-of-sale-challenges.png?resize=768%2C385&amp;ssl=1 768w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/Electronic-point-of-sale-challenges.png?w=1080&amp;ssl=1 1080w\" sizes=\"(max-width: 770px) 100vw, 770px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Converting Existing Cards Into Contactless Cards<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">A majority of cards being used in the Indian market today aren\u2019t equipped with contactless payment facility.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">They need to be converted into contactless cards to increase contactless usage at EPOS systems, especially with the pandemic here to stay.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Distribution of NFC-enabled Phones<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Similar to cards, many feature phones aren\u2019t NFC-enabled to allow merchants to accept contactless payments via their phones.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">To make EPOS a success in the market, it\u2019s essential to ensure widespread distribution of NFC-enabled smartphones or the development of an application that supports NFC payments.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Solving Upgradation Issues<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">There\u2019s always a long-term challenge behind upgrading.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Smartphones (or other hardware), as well as software (and cloud facilities), need to adapt to the ever-evolving payment acceptance needs.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Increasing The Use Of Smartphones PAN India<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">As per Statista, approximately <a href=\"https:\/\/www.statista.com\/statistics\/467163\/forecast-of-smartphone-users-in-india\/\" rel=\"nofollow\">only 845 million Indians had smartphones in 2021<\/a> as opposed to the country\u2019s total population of 139 billion.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Increasing the use of smartphones and feature phones has become a necessity to ensure the success of EPOS systems in India.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, the RBI\u2019s focus on offline payments via feature phones is a blessing in disguise.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It\u2019ll be interesting to see how electronic point of sale systems adapt to these challenges.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Explaining_softPOS_Systems_by_Cashfree_Payments\"><\/span>Explaining softPOS Systems by Cashfree Payments<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">While multiple service providers are offering highly sophisticated EPOS systems in India, not all have the ability to cater for all types and sizes of business. softPOS by Cashfree Payments solves the problem.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">softPOS by Cashfree Payments is an EPOS solution that covers a wide variety of payment options along with the tap and pay feature which differentiates it from its market counterparts.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">No matter the kind of business you run, softPOS solution will solve all your payment problems.&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Custom-designed softPOS systems with multiple integration options&nbsp;&nbsp;<\/li>\n\n\n\n<li>An exhaustive variety of payment options available for customers to choose from<\/li>\n\n\n\n<li>Highly intuitive dashboard that enables you to manage payments, run reconciliations, generate sales reports, and update inventory.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">softPOS systems by Cashfree Payments are transparent, the best services with no hidden charges. It\u2019s a one-stop solution for all your needs.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_To_Accept_Payments_Using_softPOS_By_Cashfree_Payments\"><\/span>How To Accept Payments Using softPOS By Cashfree Payments<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Most modern-day POS systems, such as one offered by Cashfree Payments, enable retailers to accept payments via different methods. Some of these are as follows.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"770\" height=\"273\" data-attachment-id=\"9839\" data-permalink=\"https:\/\/blogrevamp.cashfree.com\/epos\/accept-payments-using-softpos-by-cashfree-payments\/\" data-orig-file=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/Accept-payments-using-softPoS-by-Cashfree-Payments.png?fit=1080%2C383&amp;ssl=1\" data-orig-size=\"1080,383\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Accept-payments-using-softPoS-by-Cashfree-Payments\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/Accept-payments-using-softPoS-by-Cashfree-Payments.png?fit=770%2C273&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/Accept-payments-using-softPoS-by-Cashfree-Payments.png?resize=770%2C273&#038;ssl=1\" alt=\"accept payments using softPOS by Cashfree Payments\" class=\"wp-image-9839\" srcset=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/Accept-payments-using-softPoS-by-Cashfree-Payments.png?resize=1024%2C363&amp;ssl=1 1024w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/Accept-payments-using-softPoS-by-Cashfree-Payments.png?resize=300%2C106&amp;ssl=1 300w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/Accept-payments-using-softPoS-by-Cashfree-Payments.png?resize=768%2C272&amp;ssl=1 768w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/06\/Accept-payments-using-softPoS-by-Cashfree-Payments.png?w=1080&amp;ssl=1 1080w\" sizes=\"(max-width: 770px) 100vw, 770px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">1. QR Codes<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">QR codes or quick response codes have become the most common type of payment mode in today\u2019s time.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">They\u2019re quite handy and enable quick payments.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In the case of EPOS, to accept payment via QR code, enter the following details to generate a custom QR code.&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Amount be paid by the customer<\/li>\n\n\n\n<li>Customer mobile number for identification purposes<\/li>\n\n\n\n<li>Unique invoice number for accounting and reconciliation purposes<\/li>\n\n\n\n<li>Order Note to capture any additional information<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Once done, all a customer needs to do is just scan the custom-generated QR code using applications like GPay PhonePe, Paytm, etc. and make payment.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">2. Payment Link<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">You can send quick payment links to a customer\u2019s phone via SMS or any other messaging platform using the Payment Link feature. Customers can click on the link and process the necessary payment.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The payment link ideally contains the following details.&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The exact amount to be paid by the customer&nbsp;<\/li>\n\n\n\n<li>Customer mobile number on which the payment link was sent&nbsp;<\/li>\n\n\n\n<li>Invoice number for accounting and reconciliation purpose<\/li>\n\n\n\n<li>Order number to capture any additional information&nbsp;<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image\"><a href=\"https:\/\/blogrevamp.cashfree.com\/payment-links?utm_source=blog&amp;utm_medium=organic&amp;utm_campaign=epos_blog\"><img decoding=\"async\" src=\"https:\/\/lh5.googleusercontent.com\/3PIVbZ-j1zuygY_WP546sVbvagbnlHmVYHaN13jKK8pSLdNVMpfMkBjhgImjdzw4WCK0Y0_SCn0xX3VXy_z8BKe3H6fie79oiORMk2qlD7snWscf-NdwNoIS0NqsQlZqic172evKAwcSa5E5lg\" alt=\"\"\/><\/a><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">3. Cash<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">This option, in most cases, is given only to facilitate collection reconciliation in the backend.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In this case, the retailer only needs to enter the amount and the transactions are registered automatically in the system.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">4. Tap And Pay&nbsp;<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">This facility is only available to users using NFC-enabled Android devices.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Retailers can accept card payments from customers via a single tap on their phones.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The collection limit in the case of tap and pay via mobile phones is set at INR 5000 per transaction as per the RBI guidelines.&nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Moreso, the payment mode conducts a simple biometric check using the smartphone\u2019s in-built fingerprint or pin-code security feature.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Post the biometric check, the customer only needs to enter the payable amount and the rest of the process happens automatically. Transaction status is shared on the customer\u2019s smartphone in a matter of seconds.&nbsp;&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">5. Switch Payment Option&nbsp;<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Many times online payments via Payment Links or QR Codes may not get processed due to various reasons.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In such cases, retailers can switch between payment modes and help customers complete the transaction without starting the transaction all over again.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">At present, only a handful of EPOS service providers such as Cashfree Payments offer this feature.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Do these options sound intriguing? Schedule a call to know more.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><a href=\"https:\/\/blogrevamp.cashfree.com\/payment-gateway-india\/?utm_source=blog&amp;utm_medium=organic&amp;utm_campaign=epos_blog\"><img decoding=\"async\" src=\"https:\/\/lh3.googleusercontent.com\/i_S1BZJffVSx5I7GLoSCQ3x6jEhQ-Ayfb8vXCMxsf5C7BKIs38cpGBLHbRSSg_I0ELMpKkUT3tD3gkYex_8nJgJdAI29mqvcCwxf_msTHIgPimwf4Y7jtNgfAHriCo2vkQi2sHKmIGlemGmDIQ\" alt=\"\"\/><\/a><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>In this post, we\u2019ll touch base on what an electronic point of sale (EPOS) system is, how it works, the key benefits it offers to various players. The electronic point of sale (EPOS) systems are taking over the $9.3 billion POS market by storm.&nbsp; A bold claim, however, many latest industry reports back it up.&nbsp;<\/p>\n","protected":false},"author":29,"featured_media":6084,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_themeisle_gutenberg_block_has_review":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_wpcom_ai_launchpad_first_post":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1,1383],"tags":[1379,1443,1381],"class_list":["post-5835","post","type-post","status-publish","format-standard","has-post-thumbnail","category-all","category-payments","tag-online-payment-gateway","tag-payment-links","tag-payment-solution"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Electronic Point Of Sale (EPOS)- Meaning, Types, Benefits and Use Cases<\/title>\n<meta name=\"description\" content=\"Here&#039;s a post detailing what an electronic point of sale (ePOS) system is, how it works, and the key benefits it offers to various players.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.cashfree.com\/blog\/epos\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ePOS - The New Payment Solution For Retailers And Customers Alike\" \/>\n<meta property=\"og:description\" content=\"ePOS systems are technology-backed suite of payment techniques that help retailers accept payment from customers easily and efficiently.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.cashfree.com\/blog\/epos\/\" \/>\n<meta property=\"og:site_name\" content=\"Cashfree Payments Blog\" \/>\n<meta property=\"article:published_time\" content=\"2022-01-28T03:03:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-04T07:23:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/02\/RetailerSoftPOS_Thumbnail.png?fit=1080%2C720&ssl=1\" \/>\n\t<meta property=\"og:image:width\" content=\"1080\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Astha Khandelwal\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"ePOS - The New Payment Solution For Retailers And Customers Alike\" \/>\n<meta name=\"twitter:description\" content=\"ePOS systems are technology-backed suite of payment 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