Mobile PoS- The next Retail IoT wave If we look at the trends of mobile payments,some of them are gaining tremendous traction in the market.

1. Mobile PoS- The next Retail IoT wave
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Info-Wallet

2. Mobile POS
As the Internet of Things evolves, the retail land-
scape will move beyond the traditional POS reg-
ister. If we look at the trends of mobile payments,
some of them are gaining tremendous traction in
the market. For an intuitive customer experience,
retailers are creating more connected in-store
environment. Let’s look at some of these trends
which can help in creating a truly IoT in-store en-
vironment.
Near Field Communications
Although many think of it as a passé now itself,
some 1 billion MFC enabled phones are going to
be shipped by 2018. This technology finds its big
backers in Google and ISIS wallet. Retailers are
going to update their POS terminals for this NFC
enabled technology.
Beacons
It is estimated that by the end of 2018, around
3.5 million Beacons would be employed. It
amounts to a tremendous growth rate of 287%
in the coming 5 years. Using beacons, retailers
can enable location based targeting, payment
options, product recommendations, etc. This
will increase both the in-store app usage and
app user retention.
Beyond Payments
Mobile shoppers are interested in such apps
which enable them to do more than just pay-
ments. Some of the retailers are already work-
ing on providing them with – access to cou-
pons, viewing shopping lists, tracking spends,
etc. Another feature which is floating in the
current scenario is gift card. Companies like
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Starbucks, has rolled out gift cards in the form
of a mobile app, as keeping a physical card
hasbecome cumbersome for the people. Since,
almost $100 billion is spent on gift cards annu-
ally, this kind of smart gift card will definitely
work towards the IoT environment, enabling
the customers for a seamless
shopping experience
Inventory
Mobile POS can help an employee to get all
the require information of a product like price,
stock, etc. From the floor itself. Such mPOS de-
vices eventually make the customers’ experi-
ence more engaging.
Even purchases could be made via this mPOS
which again creates a complete IOT in-store
experience. It can also help in tracking a ship-
ment and checking on
‘return frauds’.
As discussed, Mobile POS is going to be the
next big wave in IOT for retailers. The question
is how safe the customers will feel using it? Re-
tailers would have to adopt these technologi-
cal innovations to enhanceboth the merchant
and customer experience. The growth is im-
mense but so are the challenges.

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