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Education

Retail technology trends bringing in POS terminals and the

first microprocessor cash register.
in the new year On the right side of the microproces-
sor was a swipe slot for customers to
swipe their cards when paying for
By Elie Y. Katz the transaction; there was also a PIN
pad where they could enter their card
National Retail Solutions information.

s the new year proceeds, retailers are looking for ways to improve Fast forward to the 1990s and 2000s,
their customers' shopping experiences. A critical factor in this is when the POS system evolved to be-
finding ways to leverage technology and upgrade their stores to come more than just an instrument
A create personalized shopping experiences that better meet customer for completing a sales transaction.
needs. To attract more customers, they must research how they can upgrade POS systems shifted toward becom-
their stores, find the best point-of-sale systems, utilize delivery services, and ing cloud-based, transforming how
become more environmentally conscious. users accessed their data. The data

How the POS system has changed over the years can now be accessed from any device
connected to the cloud software.
As the world changes, so does technology and how we interact with it. For
instance, the point-of-sale system has constantly evolved since it was invented Today, modern POS systems have in-
in 1879, when it was referred to as a "cash register," recording transactions with tegrated systems such as inventory
mechanical keys. It wasn’t until 1973 that the first computer-driven POS system management, camera integration, to-
was introduced to society. Back then, customers who used credit cards had a bacco scan data, ID scanning for age
harder time paying when there was no microprocessor around, and they had verification, employee time clocks,
to manually input their information. customer tabs, ecommerce, loyalty
programs, and so forth. These sys-
With many consumers using credit cards to make purchases, the POS system tems can be controlled from any de-
and credit cards formed a convenient marriage. In 1984, McDonald’s started vice, anytime, anywhere. With tech-
nology continuing to advance, devel-
opers will create more programs to
assist business owners in moderniz-
ing and improving their stores in the
coming years.
Contactless credit card processing

In 2005, contactless credit card pro-
cessing was introduced in the United
States, which has changed how peo-
ple shop in stores by providing a more
secure and convenient way to pay for
goods. Credit cards have surpassed
cash as a preferred payment method,
and it is predicted that by 2030, more
than 1.25 billion people will be using
credit cards (see https://wallethub.com/
edu/cc/number-of-credit-cards/25532).

Since the pandemic, shopping online
has become increasingly popular,
and so have in-store contactless pay-
ments. Many people were weary of
touching microprocessors and leav-
ing their homes to shop. However,
many people like using credit cards
because of the convenience, the fact
that they prevent fraud, and the dis-
counts and perks associated with
them. As a result, using credit cards
as a form of payment is here to stay
and will continue to be so in the fu-
ture.
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