SINGAPORE - Businesses looking to manage the operations of their stores from a single terminal will soon be able to do so by using a new management solution launched by Nets on Thursday.
This new management system will help merchants to monitor their inventory, manage sales, book appointments and track commissions, allowing staff to manage the store from just one terminal, Nets said in a press release.
The solution will benefit retailers, hair and beauty salons, as well as food and beverage (F&B) businesses, it said, adding that the new system is part of a wider plan to provide a range of payment options together with solutions that help its merchants streamline business operations.
Nets said that conventional point-of-sale systems typically comprise multiple devices such as a payment terminal, cash drawer and receipt printer.
“As a result, merchants have to spend time integrating multiple solutions from different vendors to get their operations up and running. With the latest integrated point-of-sale solution, small business owners avoid dealing with multiple vendors, thereby saving time and money,” Nets said.
The new solution was launched after more than 100 merchants participated in a pilot project in 2023.
For retailers with multiple outlets, the new system will allow retail staff to track and manage inventories across different outlets, while also processing transactions.
The staff can also use the system to help customers check prices or answer product questions.
For merchants providing hair and beauty services, staff can use the system to book appointments, sell packages and roster staff, as well as manage their inventory.
For F&B establishments, the new system allows waiters to take orders and accept payments in handheld terminals.
Customers can also have the option of ordering and paying using their phones or at self-service kiosks.
The handheld terminal accepts major payment forms such as credit cards, Nets bank cards and QR payments, as well as Malaysian digital payment apps and Thai bank apps.
Nets group chief executive Lawrence Chan said: “In a tight labour market, it’s crucial for small businesses to enhance productivity to stay competitive.
“Integrating solutions alongside payments enables micro-business owners to operate efficiently through automation or self-service solutions, resulting in shorter waiting time for customers.”
He added that the new system also provides businesses with instant information on their sales performance so that companies can manage their businesses using data.
The latest solution launched by Nets comes on the back of a Monetary Authority of Singapore trial of the Singapore Quick Response Code Scheme to make it easier for merchants to accept more cashless payment methods using an enhanced QR code system.
The trial, which lasts till Nov 30, will allow merchants to sign up for cashless payment schemes through just one financial institution. It also aims to give consumers more payment options by scanning just a single QR code.
