As fast as cash. That is what I look for when I am in the groceria and trying to get back to my vehicle and my next errand. When most of us have made the decision to buy, we expect it to be taken care of immediately. Ensuring that we are able to gratify the sense of accomplishment of making a purchase in short order is the drive of the point of sale, and those companies able to do it faster, smarter, better (to misquote Charles Duhigg) stand well to seize share of the market. With that in mind, Moneris is looking to be faster.
“The feedback was that the speed of payment (processing) was amazing,” recalls Amer Matar, chief technology officer at Moneris. “The speed of each transaction was under one second. The year before, they used another demo system and it took over a minute (per transaction).”
So, on first blush it appears that this latest POS development promises to be as fast, if not faster than, cash. I look forward to reclaiming the mental energy I devote to assessing the various checkout lines trying to determine which line holds the patrons predisposed to cash transactions and help be pay fealty to my driver that is known as “EFFICIENCY”. But with instantaneous transaction achieved, what will now improve the customer’s experience at the point of sale?
Overview by Joseph Walent, Associate Director, Customer Interaction Advisory Service at Mercator Advisory Group
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