Why do we still need POS machines when mobile payment is on the rise?

Apple Pay was launched in November last year, sparking consumers’ interest in mobile payments. In the past few years, mobile payments have been slow to develop. One of the major obstacles is that the cashier counters of shopping malls and merchants do not support the NFC payment function of tools such as Google Wallet.

According to the American technology news website Gigaom, the rapid popularity of mobile payments has triggered a wave of innovation in payment equipment. Traditional old-fashioned POS machines that provide card swiping and password input are being sent to history museums.

In the face of the efforts of Apple Pay, Google Wallet and other manufacturers, the retail industry has also taken action. Recently, the technology industry has seen a large number of innovative POS devices come out, ready to process mobile payments.

Mobile payment does not only mean Apple Pay, and merchant cash registers naturally need to be compatible with more than just iPhones. The new generation of cash registers must support a variety of payment methods for various types of hardware devices.

The new payment tool may be an Android smartphone, a tablet, a digital credit card, or even a wearable electronic device such as a smart watch. Obviously, the old POS can only give way to the new payment hardware.

Recently, VeriFone announced that it will develop a universal POS device that can support various mobile devices and various payment tools. The device is called "MobilePAYwaree355" and has a built-in NFC sensor and EMV chip bank card reader (EMV is the global chip card technology standard). It can support Apple Pay, Google Wallet, SoftCard launched by the three major mobile operators, and all chip bank cards. It is reported that in 2015, chip cards will gradually replace traditional magnetic stripe bank cards.

The device also has a magnetic stripe scanner for older bank cards and a QR code scanner to support QR code payment tools, such as CurrentC, a mobile payment tool launched by retailers such as Walmart and Best Buy.

The above-mentioned cash registers can be connected to smartphones and tablets via USB, Bluetooth or Wi-Fi. Like today's mobile devices, the software and systems of the cash registers can also be upgraded and updated.

Traditional shopping activities are shifting to mobile phones and tablet devices. At the same time, more and more technology companies are beginning to get involved in the retail market.

Previously, many manufacturers imitated Square and launched mini card readers that can be plugged into mobile devices. In addition, technology companies such as Poynt and Clover are using their development and design advantages from Silicon Valley to innovate traditional cash registers again.

In addition, some mobile phone manufacturers have also begun to get involved in the payment field.

Samsung Electronics , the world's largest smartphone manufacturer, has also begun to target payment devices. At the recent National Retail Federation Conference, Samsung Electronics announced that it will work with VeriFone to integrate its POS payment system with Samsung's Galaxy Tab Active rugged tablet.

Panasonic, a Japanese company that makes rugged laptops and tablets in the past, is now offering retailers a custom version of its Toughpad rugged tablet that comes with a variety of payment features, including a physical PIN pad, a chip- and magnetic-stripe-card reader, and an NFC sensor.

In the field of payment and payment devices, people have also seen another "dark horse force" - financial industry companies have also begun to innovate hardware. Just last week, German bank Wirecard announced that it would develop a bracelet that can serve as a mobile wallet.

Media analysis pointed out that it is undeniable that the innovation wave in the cash register field is closely related to the launch of Apple Pay. NFC contactless payment has suddenly become cool and popular. Google Wallet has also become active, but at the same time, the telecommunications company's SoftCard payment tool is not doing well, and it is reported that 60 employees were laid off last week.

People have seen more and more integration between the technology industry and the retail industry. In addition to the new force of Apple Pay, chip bank cards are gradually replacing magnetic stripe cards in the United States, which has also promoted the innovation of POS payment equipment.

In addition to big players such as Apple, Google, and PayPal, a large number of new technology companies have also emerged in the field of mobile payment and collection, bringing new payment technologies, including Coin, Plastic, and LoopPay.

As a winner of Toutiao's Qingyun Plan and Baijiahao's Bai+ Plan, the 2019 Baidu Digital Author of the Year, the Baijiahao's Most Popular Author in the Technology Field, the 2019 Sogou Technology and Culture Author, and the 2021 Baijiahao Quarterly Influential Creator, he has won many awards, including the 2013 Sohu Best Industry Media Person, the 2015 China New Media Entrepreneurship Competition Beijing Third Place, the 2015 Guangmang Experience Award, the 2015 China New Media Entrepreneurship Competition Finals Third Place, and the 2018 Baidu Dynamic Annual Powerful Celebrity.