Are POS opportunities eliminated due to scanning payment all over the street?

As we all know, mobile phone payment is very convenient now, especially scanning code. Even people selling Tea egg on the street use QR code to collect money. What's the point of POS?

Firstly, use a case study to illustrate.

If yo go to the street to buy breakfast for 10 yuan, you will choose to pay by scanning the QR code; If you go to the store to buy clothes for 280 yuan, perhaps you should choose to scan the QR code because it is more convenient. But suppose your savings card runs out of money and you want to pay with a credit card, what should you do

Scan code payment, whether it is the main scan or the scanned, is mainly used in multi frequency small transactions.

If you have no money in your savings account or want to use a credit card account for payment, scanning the QR code directly is not supported, but the merchant can solve the problem by scanning your QR code. To complete this action, a POS machine with scanning function is required to cooperate.

Similar consumption scenarios are very common in our daily lives. Based on the following reasons, I believe that POS machines still have a long lifecycle.

Are POS opportunities eliminated due to scanning payment all over the street?

1. The quota issue is an insurmountable threshold

Although mobile payment is convenient, the limit is limited. If you go to a shopping mall to buy a household appliance or a large item, using a credit card is a better choice, and the existence of a POS machine is very necessary.

2. Offline payment, scanning codes does not support credit cards

Online transactions such as Taobao and JD.com already fully support credit cards. However, currently, the vast majority of offline scanning payments do not support credit cards, and the payment account is a savings card.

3. POS devices can also scan codes

With the advancement of technology, a large number of intelligent POS have emerged, providing an increasingly better experience when facing mobile payment scenarios. Not only does it support multiple payment methods to choose from, but it also has a built-in member marketing system that supports queue management, order management, member management, card and voucher management, making it a better operational assistant for merchants and more favored by users.

4. Credit card points

For credit card users, the bank's points can be considered a must-have, and it's uncomfortable not to collect them. POS card swiping offers points, but what about mobile payments? Currently, except for a few banks that offer points for online transactions, most banks do not offer points. So in order to earn points, it's necessary to swipe the card

5. Banks need to issue credit cards for profit

The two main functions of banks are to collect deposits and lend. The profit of banks mainly comes from the interest rate difference between deposits and loans. There are many forms of lending, including credit cards. Especially for joint-stock banks, credit cards are the main profitable sector. In 2019, the increase in credit card issuance was 27%. With the current economic situation, banks will continue to increase card issuance, and POS machines are irreplaceable.