Created by the payment company Square, 'Square for Retail' works to augment the brand's existing technology and make it more suited to larger established retailers that are on the market.
The existing solutions from Square are more oriented towards smaller business owners as well as being a great option for taking payments outside of the traditional retail space (i.e. at events or on the street). 'Square for Retail' aims to offer brands a more comprehensive POS for businesses to utilize in order to maintain better experiences for customers.
The 'Square for Retail' retail payments systems also work to help retailers when it comes to inventory to make it far simpler to see if something is in stock and relay it to customers instead of searching endlessly.
Holistic Retail Payment Systems
'Square for Retail' Manages Payment and Inventory for Businesses
Trend Themes
1. Omnichannel Payment Solutions - Opportunity for developing payment systems that seamlessly integrate online and offline retail channels.
2. Inventory Management Technology - Potential for innovative solutions that streamline inventory tracking and enhance real-time visibility for retailers.
3. Enterprise-grade Point of Sale (POS) Systems - Space for creating robust POS systems tailored specifically to the needs of larger retailers.
Industry Implications
1. Payment Processing - Disruptive innovation opportunity to develop advanced payment processing platforms for retailers.
2. Retail Technology - Opportunity for innovation in developing inventory management and customer experience solutions for retailers.
3. Point-of-sale (POS) Systems - Space for creating enterprise-grade POS systems that cater to the specific requirements of larger retail establishments.