The Importance of a Global POS System

Apr 28, 2022 | Blog

The global POS system market is projected to grow from $75.5 billion in 2020 to $138.1 billion in 2026, a 10.3% CAGR (compound annual growth rate), according to a late 2021 report by Global Industry Analysts. Mobile POS software terminals specifically are predicted to experience a slightly greater growth – 10.4% CAGR – within the next 7 years, adds the report.

Part of this can be attributed to the massive growth some retail markets are experiencing locally in different parts of the world. Another part will be accelerated as retailers spread their assets further and further across the world, diversifying both their business risks and growth opportunities.

As your company takes advantage of global opportunities, you need a POS system that will support your expansion. A POS system that already understands the global marketplace, regulations, payment processors, and more.

How Global POS Terminals Support International Expansions

International expansions require tools that can make the new stage of operations smoother, especially when you look to navigate credit card and customer data processing alongside customer sentiment and trends. A good global POS system is more than simply translated into the native language. It needs to help you meet local fiscal regulations, integrate with local payment providers, and keep your customer’s data secure around the globe.

Law & Regulation Compliance

A POS system is more than a way to track inventory and make sales in a new country. Behind the scenes, it means you’re navigating through local data management, privacy, credit card processing, tax and cybersecurity laws and regulations, to name a few. Not complying could lead to fines, reputation damage, lawsuits, or even a ban on doing business in a given state, region or country.

Therefore, when you set out to choose a global POS system for a specific market, it’s critical to choose one that’s already done the legwork, and integrated all the local laws and regulations into its devices and software products. If you plan on expanding to multiple locations, it’s best to go with a global POS system that’s immersed in as many of them as possible, and has the experts and processes in place to adapt to additional markets.

Software Localization

The first thing many people think about when it comes to localization might be translation. After all, it’s the basic step toward communication in a new country. However, true localization goes beyond that.

It means understanding a market’s unique communication etiquette, the way customers discover products, the type of products they relish most, which sales strategies are acceptable, what they consider a great customer experience, what’s their standard for customer service, what they expect if they need to return a product, cultural phenomena and political climate, among others.

When it comes to customer relationships and transactions, you need a global POS solution that’s as tailored as possible to each market’s needs. It will help you minimize friction at crucial interaction points. Moreover, it will make the final step of purchasing feel like it was created just for your new customers, because when you work with localized global POS terminals, that’s pretty much what happens.

Global Security

A global POS system makes protecting customer data and complying with local security regulations across the globe simple. For example, stay GDPR compliant through tokenization, which allows you to secure customer data in a central location, and access it locally without ever importing it – or storing it – on the local system. 

This enables a secure, compliant omnichannel retail experience for your customers, no matter where in the world they’re shopping.

Set Your Company to Success with a Global POS System that Knows How to Grow with You

Helping retailers grow their companies and improve customer experiences around the globe is why we founded Teamwork Commerce. We believe in the power of localized operations, and embedded our software in the local preferences, regulations and laws of over 20 countries, with more on the horizon. Our POS is fully localized in twelve languages, and will keep you compliant by meeting fiscal regulations in countries like China, Brazil, and France.

Along the way, we’ve also developed teams and processes to support our global customers. We have offices in North and South America, Mexico, Europe, Australia and Asia. 

Related Posts

What Trends Will Shape Retail Businesses In 2023?

As retail businesses strive to stay competitive and relevant in the ever-evolving digital landscape, it is important to understand what trends will shape their business models over the next few years.  2023 Trends in the Retail Business By 2023, retailers will need to...

read more

Retail Outlook in Latin America: Peru

Perspectives for the Andean Country In this  outlook series of Retail in Latin America, we provide a vision of the challenges and perspectives of the retail sector that changed so much during the pandemic, and that forces us to change priorities to take advantage of...

read more

Holiday Shopping Guide

The holiday season is upon us and that means it's time to start shopping for gifts! If you're looking for some inspiration, look no further than our holiday shopping guide. Also, Black Friday and Cyber Week are just around the corner, so you can buy your gifts at a...

read more

Sign up for the newsletter

By submitting this form, you acknowledge that you have reviewed the terms of our Privacy Statement and consent to the use of data in accordance therewith.

Mobile POS

The Best Mobile POS App

Order Management System

The Cloud-Based Infrastructure

Inventory Management

Complete Visibility of Inventory

Clienteling

Empower your Sales Team

Secure CRM

Holistic Customer Experience

Reporting & Analytics

Enhance the Value of Your Data

Integrations

Seamless Integrations

High End Apparel POS

Put customer management first

Footwear & Apparel POS

Empower associates and focus on the customer

Museum POS

Customize the customer journey

Stadium & Arena POS

Drive efficient customer journeys

Success Stories

Watch our case study videos

Podcast

Commerce Talks is a retail industry podcast

Press Room

Teamwork in the news

Fact Sheets

Product suite information

The Team

Our retail vision

Careers

Join our team

Teamwork Cares

Volunteer branch

Contact Us

Holistic Customer Experience

Support Portal →

Support for Teamwork clients

Contact Us

Share This