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The share of global POS terminals market has potential to grow more than 22% during the period of 2018-2022. The global market share of POS terminals has been based on research and on an in-depth market analysis from retailers and POS Software terminals guru. In consideration of this report, sales analysis of NFC-enabled POS Software has also been taken in account.
Characteristics of Point of Sale Software
- Data Personalization
- Sales Reporting
- Customer Management
- E-commerce integration
- Analytics of Sales
- Mobile POS
- Inventory Tracking
- Fast Checkout
- Automatic Purchasing of Inventory
- Self-service kiosks
- Mobile Ordering
- Data Security
- Mobile Payments
- POS Integration with e-commerce
- PCI compliance
- Brick-and-mortar stores
- POS software in the cloud
There is tremendous growth in contact-less payment applications and it fuel the economy. Customers wants to do shopping ,when they consider it worth having. There are unforeseen factors that in way between customers and product e.g. Some customers don’t have money to buy product, some are looking for product review, some consider purchasing product online and even some lag it purchasing. To knock down procrastinate developers have come out with solution of providing Apps that kills lagging effect of mind and makes customers to buy the products.
The increased adoption of contact less payment application has already drive contact-less payment market. More and more developers are tapping into contact-less payment market. Giant sharks such as Apple, Google, Samsung and Paypal are introducing fiercely their own payment applications, consequently becoming driver seat for growth of POS Software in Saudi Arabia. Contact and bank-less industry is going to growth with double digits with increased payment applications in market.
The introduction of IoT. Chat-enabled Quick service POS Software in Saudi Arabia and NFC-based contact-less payment wearable devices will be major upcoming trend. Customers can make the payment in VR domain. Similarly, smartphones manufacturers are introducing NFC-based wearable devices such as watches, rings, activity trackers, wireless-enabled wearable technology devices that will enhance the usage of NFC based devices..
Report also put light that threat of competitors are on rise that overhaul will impact the market growth. Rivals payment methods include e-wallet applications such as Microsoft Pay, Walmart Pay, and Chase Pay. These payments application works perfectly efficient without usage of NFC technology and most importantly they’re compatible with Retail POS systems in Saudi Arabia and are impacting the growth of rival contact-less payment applications.
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