What is a SoftPOS? Power your stores through mPOS integration

The combination of SoftPOS (software POS) and mPOS (mobile POS) capabilities bring retailers a lot of advantages, including cost, operations, shopping experience and sustainability benefits. 

Retailers can capitalize on this trend by ensuring their current point of sale solutions are mobile-enabled and are interoperable with SoftPOS technology.

What is a SoftPOS?

Traditionally, card present payments were only accepted on secure payment terminals. These devices were designed specifically for PCI security and were certified accordingly. 

SoftPOS (Software POS) is a next-generation software-based payment processing system that enables Near Field Communication (NFC)-capable devices such as smartphones and tablets to function as contactless payment terminals without a traditional external payment card reader. 

Crucially, for retailers with a unified commerce strategy, SoftPOS can easily handle diversified, real-time, and secure tap to pay or tap on phone in-person payments in physical stores. Currently, existing SoftPOS solutions on the market may work with several operating systems, such as Android and iOS, making the adoption path easier for merchants.

Why SoftPOS is trending

Consumer adoption of digital payments is driving the strong global growth of cashless-based payments in physical stores. The overall number of merchants using SoftPOS solutions is predicted to exceed 34.5 million globally in the next five years, with growth driven by Apple’s entrance into the space. Juniper Research also forecasts that the global transaction value processed via soft POS will reach $11.8 billion by 2028, up from $1 billion in 2023. 

The PCI Security Standards Council (PCI SSC) introduced in 2020 the Mobile Payments on COTS (MPoC) standard by the PCI Security Standards Council (PCI SSC), indicating that the SoftPOS business is evolving. As a result of these improvements and increased interest from retailers, SoftPOS, which first emerged in the small business market, is expected to acquire traction in larger retailers. 

The power of integration: Software POS and Mobile POS

SoftPOS and mPOS solutions are not the same. With a traditional mPOS solution, a secure payment device is connected to the merchant’s device to accept payment, typically via bluetooth. Mobile POS solutions provide multiple benefits that help retailers increase sales. However,  by combining SoftPOS and mPOS capabilities into a single solution, retailers can unlock numerous benefits.

Enhanced Flexibility

Integrating SoftPOS with mPOS broadens the choice of payment alternatives available to customers. Whether customers prefer contactless payment, chip cards, or traditional magnetic stripe cards, a unified system can support a wide range of preferences effortlessly.

Cost savings and operational improvements

Traditional POS payment hardware can be expensive to buy and maintain. By combining SoftPOS technology with existing mobile devices, retailers may dramatically cut hardware costs while maintaining full transaction capabilities.

Other advantages include improved portability and battery life, as well as a lower risk of losing the payment device. There are also less hardware difficulties. Traditional hardware is complicated by the necessity for each device to be certified, key loading, shipping, and long lead times if a device needs to be replaced, to name a few. All issues are eliminated when using a SoftPOS solution.

Improved experiences for customers and employees

Retailers may provide faster checkout experiences by combining SoftPOS and mPOS solutions, lowering wait times and increasing overall customer satisfaction, especially in sectors such as fashion. The ability to accept payments from anywhere in the store allows employees to provide personalized assistance and streamline the purchasing process. Furthermore, the ability to process payments without the need for an additional payment device enhances the experience for associates, who can serve consumers using a single device.  

Increased sustainability

The combination of SoftPOS with mPOS results in more sustainable solutions, especially as it eliminates the need for additional payment devices.

• No need for additional payment hardware: no resources, labor, or energy are required to be manufactured.
• No transportation: There is no need to distribute the devices, reducing pollution created by autos and trucks.
• No extra power consumption: SoftPOS uses the power of a smartphone, whereas traditional terminals require charging.
• No spare components and on-site maintenance: There is no need to send people to stores to replace terminals or repair hardware pieces.

Interested in a modern mPOS ready to leverage the benefits of SoftPOS technology? 

Orisha | Openbravo offers a powerful point of sale system, part of our cloud-based SaaS platform for unified commerce and recognized by Gartner, which is mobile enabled and facilitates the integration with softPOS solutions.

Interested? Watch this video showing it in action in a Tap on Phone scenario with our partner Worldline and contact us today to discover how we can help you.