Subj : I am a retailing expert, and this little device is costing retail To : All From : TechnologyDaily Date : Fri Aug 01 2025 15:30:08 I am a retailing expert, and this little device is costing retailers worldwide billions in lost sales Date: Fri, 01 Aug 2025 14:27:41 +0000 Description: Tired of clunky card machines? SoftPOS turns smartphones into powerful, queue-busting payment terminals. FULL STORY ====================================================================== Lets be honest: there are few things more frustrating than standing in a queue whether youre a customer or a business owner watching sales slip away. Those long lines are bad for morale, and theyre really bad for business . But a new technology SoftPOS is transforming the way retailers tackle this challenge. SoftPOS, or software point of sale, turns any standard smartphone or tablet into a secure, fully functioning payment terminal. No extra hardware. No cables. Just an app. As someone whos spent years at the crossroads of payments and retail tech, I can say with confidence: this development is a huge leap forward. Why were still shackled to clunky tech Its wild to think that the average Brit spends over a year of their life queuing. In the US, people spend a staggering 37 billion hours annually in line. That time adds up to serious financial leakage and sheer inconvenience for everyone involved. Every minute a customer waits increases the likelihood of abandonment, complaints, or worse, defection to a more efficient competitor. It means more pressure on in-store teams, it causes unhappy customers to walk out of the door with the merchant looking forlornly at yet another lost sale. Yet many businesses are still stuck with outdated POS terminals that slow down service. Our recent research at Tribe revealed that 28% of merchants are using legacy POS systems that cant even accept modern payment methods like digital wallets or QR codes. That means a huge number of businesses are quite literally turning away sales because their tech cant keep up with how people want to pay. And its not just about sales. Outdated payments systems contribute to: Lost upsell opportunities at the checkout (30% of merchants cite this as their top challenge) Costly maintenance and compliance headaches A lack of real-time analytics, leaving merchants flying blind when it comes to customer behavior Built-in speed and security With SoftPOS, businesses can deploy queue-busting strategies instantly. Think mobile staff roaming the floor, checking stock, cross-selling, and accepting payment on the spot and processed in seconds. Think outdoor venues, market stalls, food trucks, and tradespeople taking payments with a single tap at the point of service. Its payment anywhere, anytime. For mobile workers, gig economy sellers, and pop-up vendors, this flexibility is golden. Even in traditional retail environments, its a shift in how payments are handled. Instead of relying on one fixed terminal at the counter, you can equip your team to take payments from anywhere in the store. One of the questions I get asked most often is: But is it secure? And the answer is a resounding yes. SoftPOS uses the same PCI DSS-compliant standards and encryption as traditional chip-and-PIN systems. With tokenization, real-time fraud detection, and standards like PCI MPoC now in play, SoftPOS matches and in many cases exceeds the security provided by legacy systems, such as secure PIN-on-glass transactions, making higher-value purchases fully seamless. Small businesses, big benefits; and data that drives loyalty SoftPOS isnt limited to large retailers. Its arguably even more revolutionary for micro and small and medium business ( SMB ) owners, who until now faced barriers to entry with traditional POS tech: SoftPOS is cheaper. No hardware terminals, no costly software licenses, no hidden maintenance fees. Its faster to deploy. Download the app and go live the same day. Its modular and scalable. Use it standalone or integrate with existing systems without disruption. Why spend thousands on bulky hardware when your phone can do the job just as well? There are no hardware costs, no installation delays, no lengthy onboarding. Download the app, and youre ready to start taking payments. Were seeing huge take-up from independent traders, personal service providers, and mobile vendors. They love the simplicity, the low cost, and the ability to offer customers a smooth, modern experience. Beyond cutting queues and costs, SoftPOS opens up a deeper value stream: data. We hear a lot about the desire and need for better customer insight, and SoftPOS delivers. Traditional POS terminals are notoriously bad at providing useful, real-time data. In contrast, SoftPOS integrates directly with customer relationship management ( CRM ) systems, loyalty platforms, and analytics dashboards. That integration helps businesses track customer habits, tailor offers and create meaningful personalized experiences. In our research, 63% of merchants said hyper-personalization would help grow their business. SoftPOS puts those capabilities within easy reach. Why payment providers should pay attention SoftPOS is also a huge opportunity for acquiring banks (i.e., financial institutions that process payments on behalf of businesses) and payment service providers, or PSPs (i.e., third parties that help merchants accept payments more easily). SoftPOS solutions like Tap on Phone offer a more agile, lower-cost path to meeting merchant needs for these players particularly in emerging or underserved markets. As the payments landscape evolves, tools like these are forming the backbone of more responsive and connected merchant services. For businesses still relying on old POS systems, nows a good time to take stock Ask yourself: How many customers am I losing to slow queues or poor checkout experiences? What payment methods am I missing out on? Could my team sell more if they werent tethered to the till? Would troves of new data help me upsell? (The answer here is pretty obvious) Many of these issues can be addressed with just one app and a phone. Thats the real power of SoftPOS: low-friction payments that fit the way modern businesses operate. Whether its through a pilot or gradual rollout, its worth exploring how this technology could fit into your operation. In a fast-moving, fiercely competitive retail landscape, success depends on improving efficiency, enabling flexible selling, and gaining real-time customer insight. Our research shows that early adopters of SoftPOS are already seeing results from shorter queues to smoother, more engaging customer experiences. Those who act now will be better equipped to adapt, grow, and lead in an increasingly digital market. Its time to leave clunky terminals behind and embrace a simpler, smarter way to take payments. We've featured the best mobile payment app. This article was produced as part of TechRadarPro's Expert Insights channel where we feature the best and brightest minds in the technology industry today. The views expressed here are those of the author and are not necessarily those of TechRadarPro or Future plc. If you are interested in contributing find out more here: https://www.techradar.com/news/submit-your-story-to-techradar-pro ====================================================================== Link to news story: https://www.techradar.com/pro/i-am-a-retailing-expert-and-this-little-device-i s-costing-retailers-worldwide-billions-in-lost-sales --- Mystic BBS v1.12 A49 (Linux/64) * Origin: tqwNet Technology News (1337:1/100) .