The POS Industry Research Top 6

Our Roundup of Surprising Stats

Each month, TimePayment accesses POS industry research* to help guide you on making the most of today’s business opportunities.

This month, we evaluate the role of online presence and payments.

By the numbers:

1. Only 8 in 50 restaurants will buy their next POS without first evaluating an online hardware/software provider.
2. Only 11 in 50 merchandise retailers will buy their next POS without first evaluating an online hardware/software provider.
3. Only 29 in 125 hotels will buy their next POS without first evaluating an online hardware/software provider.
4. Convenience and simplicity are more valued over monthly cost 72% of the time among retailers in POS acquisition.
5. 72% and 63% of restaurants and hotels respectively will seek financing for their next POS purchase.
6. Only 8 of 63 POS dealers offer an all-in-one hardware/software solution available via a turnkey buying process online.

Key Takeaway: Not featuring payment options prominently will lead to lost opportunities. TimePayment can help dealers build an easier buying process with affordable payments that attract more customers.

* 1H22 Greenwich | Sawbux Survey of Commercial Finance Decision Making