Written by Shogo Tsuji, Internal research team,
24 Mar 2020, 5 minutes
The adoption for cashless payment, especially digital wallet, is on the increase as consumers become more familiar with these novel payment methods.
More than 8 in 10 Singapore consumers opt for digital payments as their preferred payment methods as they get to enjoy the convenience. On the receiving end, almost 3 in 5 Singapore merchants accepts digital payments. This is more apparent in merchants that has a Point-Of-Sales (POS) system in their retail space.
However, these multiple payment methods are often not integrated with the POS software and it causes some drawbacks at the same time.
What problems do merchants deal with?
Multiple terminals located behind counter
You may have seen several credit card terminals located behind counters or POS hardware. This phenomenon happens because additional hardware are required to perform cashless transaction. Likewise, merchants who would like to leverage on the different processing cost given by various banks will also have multiple terminals issued by various banks.
With more terminals, the counter often becomes cluttered and human error may arise.
Segregation of key business functions
POS companies often to do not offer the full suite of business functions required by merchants. Merchant often engage separate vendors to have the additional feature (e.g. CRM, marketing) integrated with the POS software, and there will likely be an integration fee. The existing segregated software stack requires business owners to manage multiple vendors on top of running their business offline and online (again, often operated separately)
As a result, additional resources and effort is required to gain control of these functions and operate efficiently.
Different streams of data
With different business functions operating on different platforms, there will also be a large quantity of data flowing in from each of these channels. Similarly, business owners will experience a hard time trying to understand these data and how they speak to one another.
Do more with less, herohippo
herohippo is developed to mitigate the problems mentioned and bring all the key functions of both retail and F&B business together.
From offline business to online business, POS terminal to cash drawer, digital payment acceptance to marketing; herohippo can do it all.
All payment types can be accepted through herohippo and this is done by the dynamic QR feature. Once a cashier selects payment on the POS software, the customer can choose his/ her preferred payment method and the system will generate a dynamic QR code for the consumer to scan and complete payment.
In addition to the acceptance of diverse payment methods, consumers can place their orders in advance either through the online store or by scanning the table or store QR Code. Thanks to the table or store QR, miscommunication between service staff can be eliminated; eventually improving operations in the long run.
Other functions of herohippo includes Real-Time Inventory Management System, Kitchen Display System (printer), Chain Store or Franchise Management, Real-Time Business Data Presentation, Marketing Tools, and CRM module.
Through the various features, herohippo compiles the data and present it in a simple to read format that will help business owners gain a better understanding of their performance and design their future strategies.
With herohippo, business owners can achieve full control of their business with lesser hassle. Do more with less.