Shopify doubles down on unified commerce with a new point-of-sale device

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The news: Shopify introduced a portable point-of-sale (POS) device called POS Go, according to a press release.

Here’s how it works: POS Go enables merchants to accept touch, magnetic and chip card payments and mobile wallets. The wearable device is WiFi-enabled and integrates with Shopify Payments, the brand’s online payment platform, so merchants have a unified view of their business. It also allows merchants to track customer analytics and inventory management.

Why it’s worth watching: Merchants want unified commerce solutions and payment tools that meet their business needs.

While much of its business focuses on e-commerce, Shopify also supports in-store retail, which remains a popular shopping channel. U.S. non-ecommerce retail sales are expected to reach $5.938 billion this year, accounting for 85% of total retail sales, by Insider Intelligence eMarketer forecasts.

  • Solutions like POS Go connect in-person and online payment systems, making it easier for merchants to understand their overall performance.
  • This responds to merchant demand for operational efficiency and simplicity: 70% of digital small business decision makers globally want simpler technology and payment relationships, by Paysafe.
  • Unified commerce The solutions also save merchants time and money when connecting online and in-person payment systems.

Portable or mobile point-of-sale (mPOS) solutions are attractive because they allow small businesses to make payments on the go, which is especially beneficial for businesses like food trucks. Other merchants are using these types of solutions to complement stationary point-of-sale technology and improve in-store operations. Products like POS Go, for example, can help customers get through checkout lines faster.

The Opportunity: POS Go can help Shopify capture a larger share of in-store retail and boost monthly recurring revenue, which grown up 13% year-over-year in the second quarter driven by an increase in the number of businesses using POS Pro, Shopify’s all-in-one point-of-sale system.

And as the holiday season approaches, Shopify can use POS Go to capture more sales volume. U.S. Holiday Retail Sales Expected to Hit $1.262 Trillion This Yearcompared to $1.221 trillion in 2021, by our forecasts.

Related content: Discover our “Payment Disruptors for Small Businessesreport to learn more about the tactics merchant service providers are using to attract small businesses.

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