The point of sale (POS) or point of purchase (POP) is the time and place where a retail transaction is completed. At the point of sale, the merchant calculates the amount owed by the customer, indicates that amount, may prepare an invoice for the customer (which may be a cash register printout), and indicates the options for the customer to make payment. It is also the point at which a customer makes a payment to the merchant in exchange for goods or after provision of a service. After receiving payment, the merchant may issue a receipt for the transaction, which is usually printed but is increasingly being dispensed with or sent electronically.
In 2018, the global Cloud POS Market size was xx million US$ and it is expected to reach xx million US$ by the end of 2025, with a CAGR of xx% during 2019-2025.
This report focuses on the global Cloud POS status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Cloud POS development in United States, Europe and China.
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The key players covered in this study
One Stop Retail Solutions
Market segment by Type, the product can be split into
Training, Consulting, and Integration
Support and Maintenance
Market segment by Application, split into
Market segment by Regions/Countries, this report covers
Central & South America
Financial Services refer to the services provided by organizations that deal with the management of money such as banks, investment banks, insurance companies, credit card companies, and stock brokerages. In addition, they also deal in the fields of estate, securities, trust, and agency services, and all forms of financial intermediation, including the distribution of financial products.
Organizations operating in the financial services strive to grow and enhance their shareholder values while dealing with the risk associated with the market and regulatory pressures. The rising customer needs and expectations increasing on a daily basis, which, as a result, is making a mark in increasing personal wealth, maturation of population, and personalization of financial products and services.
Subsequently, the competition in the financial services market is intensifying and squeezing market margins are forcing the market players to cut costs while enhancing the quality of customer choice and service. As financial services organizations become more innovative and entrepreneurial, it leads to increasing complexity in products and hence, uncertainty in the business environment.
At the same time, stringent regulations imposed by the government are indicating the increasing pressure for improved supremacy, transparency, and accountability. In such a scenario, market players try to turn challenges into opportunities to build stronger and more enduring customer relationships by sharpening their process efficiency and creativity.
As a catalyst for strengthening the business, these companies, use improved risk management processes to deliver more sustainable returns and regulatory demands. These rapid changes have created the need for a new generation of solutions that can operate in real time with very flawless reliability.
Market participants are leaning towards technological advances and become more proactive and efficient while focusing on cost reduction. Apart from being a powerful economic force, financial services can drive success, standards, and operations in other industries as well.
Almost every company uses financial services for their own interest as well as for their customer’s business purposes, practices, regulations, and standards. To become more customer-oriented, financial services organizations need to have an effective network strategy in place that can increase their profitability and lessen total ownership costs.
Financial services comprise everything from individual or group of consultants to banks, credit cards, and alternative financing providers. Businesses have different needs, and the financial services market has the diversity and range options to better suit them all.
The financial services industry is going through an extensive digital transformation in the face of market volatility, consumer, and a shift in regulatory requirements. Moreover, these financial services organizations are looking to transform their operations into real-time and software-operated businesses of the future.
They keep themselves abreast with the knowledge of new technologies and are adopting highly-automated largely software-operated operations. Currently, stream processing technology is trending with the expectations to offer a paradigm shift for data processing in the finance industry.
This technology, alongside, the associated streaming data architecture environment, leveraging real-time insight and data-driven applications, allows financial services organizations to react to information in a completely different manner.
Blockchain is an emerging technology which can provide transparency as well as security to financial institutions. It can ensure the security of high net worth individuals and their income while reducing operational costs.
The ING Group, a multinational banking & financial services, is one such bank using stream processing to power its real-time fraud detection engine. With the help of this technology, the bank was able to build an Apache Flink-powered risk engine that allows it to respond to new, previously-unknown threats instantly.
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