- EPOS machines make it easier and quicker for customers to buy products and services, leading to better customer satisfaction.
- Because the EPOS machines are electronic, they allow for faster transactions and less paperwork which can be cumbersome to process.
- Using EPOS systems at festivals and events helps both customers and vendors alike as it reduces wait times and streamlines the payment process.
- The advent of 5G and Private LTE provides opportunities to create new solutions for high-capacity connectivity for densely populated festivals and large-scale events
What is an EPOS system?EPOS stands for ‘Electronic Point of Sale‘, with an EPOS system essentially being a modern till connected to a computer. Gone are the days of cash tills, EPOS card machines allow customers to make transactions with ease, simplifying the payment process while providing greater security than a traditional till. EPOS systems have begun revolutionising the way cashless payments are made at festivals and events, but first, we must ask:
How do EPOS systems work?EPOS machines use a system of secure identifiers to regulate payments electronically. After the customer has entered their PIN, used Face ID, or scanned their finger, the machine will securely process the payment and send an electronic receipt to both the customer and the merchant. Through using an EPOS system, storeowners (and events and festival managers) can process and track purchases, leading to a better understanding of their business’s performance. Using IoT (Internet of Things) technology, an EPOS terminal can be linked to a central database, allowing merchants to analyse customer data as well as transactions.
Difference between EPOS and POS systemsWhile both EPOS and POS systems (point-of-sale) are payment processing systems, the main difference between them is that EPOS systems are electronic and mostly operate online. EPOS systems have the ability to store information securely in a cloud and in turn, offer more security. Read more: A guide to POS Mobile Connectivity & IoT SIM Cards
Examples of EPOS systems include:
- PDQ Terminal
- Tablet EPOS
- Receipt Printer
- Barcode Scanner
How are EPOS systems helping festivals and events?The use of EPOS card machines has completely changed the way payments are made at festivals and events. With cashless transactions, festival managers can track purchases in real-time with ease, leading to a better understanding of the customer’s behaviour when it comes to spending money. Moreover, since the payment process is electronic, it makes the process of refunding customers easier and more secure, as their details are stored with the EPOS system. For customers, cashless payments offer a faster and more secure alternative to traditional payment methods such as debit or credit cards. Many festivals and events have introduced cashless wristbands, where attendees use an online app to upload money to their band to pay for food, drinks and other items. This eliminates the need for traditional payment methods such as cash or cards, allowing customers to make secure payments quickly and conveniently. Studies have shown that the faster a queue moves, the more likely you are to get a sale. Fortunately, the use of an EPOS payment terminal helps reduce queues at events and festivals as transactions take far less time to process, meaning more sales can be made. Because of EPOS card machines, events and festivals can now provide a much smoother and faster checkout experience for their customers, enabling them to get back to the business of enjoying themselves.
What are the benefits of an EPOS system?Using EPOS card machines at festivals and events offers numerous benefits, some of which include:
- Enhanced security: One of the key advantages of EPOS is its enhanced security. With secure identifiers regulating payments, customers can be sure that their money is safe.
- Reduced queues: EPOS systems reduce waiting times as transactions are processed in seconds.
- Increased accuracy: EPOS card machines provide more accurate data than traditional cash tills, allowing merchants to analyse customer behaviour.
- Increased speed: Since payments are electronic, they can be processed in seconds, allowing customers to save time and get back to enjoying the festival or event.
- Easy refunds: EPOS payment systems make it easier to process refunds, as customers’ details are securely stored with the system.