Do Coles Own Their Own POS Terminals? A Deep Dive into Retail Technology at Coles

In today's fast-paced retail world, the use of Point of Sale (POS) terminals is more crucial than ever. As one of Australia's leading supermarket chains, Coles operates in the heart of this milieu. This article will explore whether or not Coles owns their own POS terminals and delve into their technology journey in the retail space.

Coles' Retail Technology Landscape

The Australian retail giant, Coles, has been consistently adopting cutting-edge technological advancements over the years to stay competitive in the market. A significant part of this retail technology revolution includes modernizing POS systems to streamline operations and provide top-notch customer experience. So, the question arises: Does Coles own their own POS terminals?

As a major player in the retail space, Coles has had a history of taking control over its technological assets. Owning their own POS terminals gives the company the leeway to manage and upgrade their systems as needed, ensuring seamless performance and reliable customer service.

Coles and Global Payments

Coles' modern journey in achieving ownership of their POS terminals primarily began when the chain switched to a new terminal management system in partnership with payment processing giant, Global Payments. Coles reportedly entered into a five-year agreement with Global Payments, a move that saw the retailer migrate to the Ingenico Move/5000 terminal in 2019.

The Ingenico Move/5000 is an innovative, all-in-one wireless POS terminal that supports all payment methods –redit, debit, and mobile payments (including contactless, chip, and swipe transactions). The terminal boasts a user-friendly touch screen, built-in printer, and robust security features, creating a seamless user experience.

In line with Coles' strategy to own and manage their own POS terminals, they devised a plan to phase out their older payment terminals, replacing them with the Ingenico Move/5000. This strategic decision enables Coles to take full control of their terminal fleet, ensuring a uniform approach in managing every aspect of their payment infrastructure ?from software updates to security maintenance.

The Coles-ONZO Partnership

In addition to Coles' ownership of Ingenico POS terminals, the company has also ventured into creating their own state-of-the-art technology using collaborations. One such partnership is with London-based ONZO, a global analytics and data management company. Coles has worked with ONZO to develop an upgraded, machine-learning driven POS system.

The ONZO partnership allows Coles to use personalized digital analytics to further improve customer experience at the POS terminals. The introduction of this new AI technology enables Coles' POS systems to provide real-time customer insights, allowing the company to tailor marketing strategies, promotions, and product offerings based on individual customer preferences.

The Technology Transformation at Coles

As part of their commitment to innovation, Coles has consistently undertaken new initiatives aimed at transforming their POS terminals and overall retail technology. Coles understands that staying updated with cutting-edge technology and owning their POS terminals is a crucial aspect of enhancing customer experience and driving growth.

Contactless Payments

One of the innovations brought forward by Coles includes the widespread adoption of contactless payment methods. Coles has been an early adopter in promoting tap-and-go payments in Australia, introducing contactless POS terminals in 2009. As contactless payment technology gained popularity, Coles ensured that their terminals were equipped to deal with increased demand.

This push towards a cashless and face-to-face transaction system has been accelerated by the COVID-19 pandemic, as consumers and businesses alike look for safer and more convenient ways to exchange payments. The Australian supermarket giant has embraced these changes, ensuring that their POS terminals are compatible with the latest contactless technologies.

Mobile Payment Solutions

Coles has also been quick to adopt mobile payments, enabling customers to make purchases through their smartphones. Utilizing the ubiquity of mobile devices, Coles has integrated payment platforms like Apple Pay, Google Pay, and Samsung Pay into their POS terminals. This digital wallet capability contributes to a seamless and convenient shopping experience, giving customers a multitude of payment options.

Frameworks like FlyPay and Coles Mobile Wallet have been integrated into the company's POS terminals as well, resulting in a faster checkout process. These mobile applications also enable Coles to offer customers personalized offers and incentives, adding value to the shopping experience.

Embracing Digital Transformation

Coles continues to push the boundaries of retail technology, with plans to further digitalize their stores and advance their POS terminal systems. By owning their POS terminals and actively seeking partnerships with technology companies, Coles has demonstrated their commitment to providing the best possible customer experience.

The ownership and control of their POS terminals allow Coles to adopt new payment technologies and offer customer-centric services that cater to an ever-evolving market landscape. Through these continuous advancements, Coles undoubtedly cements its status as a leading retailer in the Australian market and beyond.