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28/09/2009 -
As the world becomes increasingly automated, customers are demanding more control over their transactions than ever. As a result, point-of-sale (POS) technology is beginning to address more than just payment processing - it also has become a way for businesses to better serve their customers and thereby boost their bottom lines.
As a result, self-checkout POS terminals have seen rapid growth in recent years, and are expected to continue growing - the Dallas Morning News reported that self-service kiosk transactions in North America are expected to surpass $775 billion this year, an increase of $178 billion compared to last year, according to data from IHL Group.
These kiosks are projected to generate $1.6 trillion in transactions by 2013, the IHL report found.
Lee Holman, lead retail analyst for IHL Group, told the news provider that the technology caught on quickly after the tipping point in 2001.
"After some hand-holding, consumers have embraced it," he told the Dallas Morning News. "Now there's a perception ... that 'I can do this quicker.'"
Though not all sectors or businesses are right for self-service POS terminals, the technology is continuing to develop rapidly and promises to transform the payment card industry in the coming years.
