High-speed and Smart Billing Solution from Millennium India

MagicBox-Elite

Chennai, India, 2018-Oct-09 — /EPR Retail News/ —  Keeping its endeavor to empower retailers with latest technology to enhance their business, Millennium Soft-tech India today introduced yet another advanced and multi-functional, yet affordable Android Desktop POS solution for Indian businesses who hitherto are striving for futuristic and high-speed POS devices to extend customers with best-in-class in-store experience.

 

MagicBox ELITE Android desktop POS terminal is strikingly similar to MagicBox Plus, which the company has unveiled to small and medium retailers last month, but with a few add-ons. One of the striking features Elite offers is an in-built 3-inch thermal receipt printer (160 mm per sec with auto-cutter) which intends to benefit wholesale and larger business enterprises to speed-up their checkouts and provide customers with more detailed purchase orders, bills and receipts.

 

MagicBox Elite has 11.6-inch screen touch display with HD resolution and IPS technology provides good readability even under bright sun. Bluetooth (4.0), NFC (optional) technology, 2- line LED customer display and Wi-Fi are the other highlights of this POS terminal. The compact, well designed and rugged desktop POS terminal also comes with plenty of USB connectors to connect hardware devices such as external printer and barcode scanner.

 

Commenting on the release of new desktop POS terminal Bhaskar Venkatraman, CEO and Director of Millennium Soft-tech India, said: “Indian retailers are hard-pressed to meet growing customer demand and challenges posed by large peer groups who are equipped with latest billing and store management solutions to offer the best shopping experience to customers.”

 

Bhaskar Venkatraman, Director, Millennium Soft-tech India Pvt Ltd.

“The advent of supermarkets and smart stores in the neighborhoods are compelling retailers to come out of traditional retailing practices and adopt modern technologies as customers, armed with mobile technology, want to connect with retailers through multiple touch-points. So, whoever offers flexible transaction windows, get more customers and business. MagicBox Elite intends to help retailers of any size provide fast and advanced billing solution to customers while automating several in-store activities such as inventory, sales, payments, purchases and CRM,” Bhaskar further stated.

 

The new MagicBox Elite comes with user-friendly retail software application, and shop owners can easily perform GST billing, accept multiple payments, manage inventory in real time, send offers and discounts to valued customers, manage CRM and loyalty programs and generate sales reports for better business forecast and management. Accessible on Cloud, retailers can get store information in real time anywhere and can take crucial business decision on the go.

 

MagicBox Elite offers versatile POS solutions for retailers belong to myriad business verticals. From small, medium to large grocery stores, departmental stores, food stalls, bakery shops, diagnostic and testing labs to medical stores, dairy business, electrical and home appliance showrooms, footwear shops and hospitality industry can use Elite to provide the best-in-class customer experience,” concluded Bhaskar.

About Millennium India

 

Established in 2002, Millennium Soft-Tech (India) Pvt Ltd has been in the forefront of providing Point of Sale (POS) technology products and solutions to Indian businesses through astute marketing strategy supported by huge partners’ network across India.

 

Having associated with world’s leading POS brands, Millennium understands the growing demands of retailers better than anyone else irrespective of their size, stature and nature of business, and offers comprehensive, advanced and sustainable solutions to enhance their businesses.

 

Headquartered in Chennai and having branches all major cities in India, Millennium has a clear vision of empowering millions of unorganized small and medium enterprises spread across the country by automating their transaction activities and make them competitive with established market peers.

 

As the national distributor of leading multinational POS brands including Epson, Posiflex, Casio, Toshiba, Honeywell, Godex, and Opticon, Millennium offers POS solutions to corporate brands, retail giants and SMEs across India.

For further information, contact:

 K Ramanathan

Content Head & Media Coordinator,

Millennium Soft-Tech (India) Pvt Ltd, G-19,2nd Floor,

Block-16, 2nd Main Road

Ambattur Industrial Estate, Chennai -600 058

Phone: +91-9384612789/ +91-917 666 2020

Email: ram(at)Justransact(dot)com

India Should Reduce GST on Point Of Sale Devices to Encourage Digitalization: Millennium

Bhaskar Venkatraman

Chennai, India, 2017-Nov-16 — /EPR Retail News/ —  Ever since the Indian government introduced the ‘historic’ Goods and Services Tax regime from July 2017, there have been frequent announcements for revision of rates for several items by the GST council owing to pressure from public, traders and political spectrum.

However, there are certain items which are still in the bracket of 18 per cent and 28 per cent, which, according to experts, will do no good for the government’s grand initiatives towards cashless economy and digitalization of all transaction activities.

For example, most of the Point of Sale (POS) devices are still in the higher rate of GST. While POS devices such as POS terminals, barcode scanners, barcode printers, mobile printers, receipt printers, etc are placed at 18 % slab, POS consumables such as paper rolls, ribbons and inks and also POS accessories such as pole display, cash drawers and magnetic stripe readers are still in the highest slab of 28%.

Bhaskar Venkatraman

Bhaskar Venkatraman

The higher GST slab for POS products and accessories will discourage retail vendors to go for digital transformation, feels Bhaskar Venkatraman, the CEO and Managing Director of Millennium India, a pioneer in introducing POS machines to retail businesses in India.

“The government’s digitalization move can bear the fruit only when all retail businesses, even in the remotest corner of India, automate their store by digitalizing their business operations moving out from the traditional and obsolete transaction methods. But the high GST slabs on various POS devices is a big discouragement for it. Hence, the GST Council should reduce the GST for all the POS items and accessories and also reduce the burden on importers by slashing the import duties, as majority of POS payment terminals, barcode printers, scanners and other supportive devices are being imported to India,” feels Bhaskar, who launched India’s first ecommerce portal ‘Justransact’ in 2014 exclusively for point of sale electronic items.

Even the nominal bank transaction charges for card payment at Point of Sale are scaring away retail vendors to adopt card payment option. Some of them, who have installed POS payment devices at their shops, are simply passing this burden to customers.

Post demonetization, cash still remains the major source of transaction even after one year of its implementation, though there has been phenomenal increase in card transactions. GST, which was intended to bring uniform tax regime, has so far not created the required impact among trading community as almost every week there have been some changes in its implementation or the rates.

“It is too early to suggest the impact of GST on the businesses or the economy. For any major reforms,  there will be issues which need to be addressed, and I think, the government is doing the right thing by revising the GST rates after getting feedbacks from various quarters. In the same line, 18 and 28 per cent GST for POS machines are too high to be absorbed by retail vendors. On the other hand, lower GST for POS devices will further trigger the growth of the Indian retail industry, which is currently the fastest among the Asian peers,” concludes Bhaskar.

For media contact:

K Ramanathan

Editor and Media Coordinator,
Millennium Soft-Tech (India) Pvt Ltd
ram(at)justransact(dot)com,
G-19,2nd  Floor,Block-16, 2nd Main Road,
Ambattur Industrial Estate, Chennai-600 058.

 

Now invisible barcodes to dodge counterfeits at Point of Sale

Chennai, India, 2016-01-13 — /EPR Retail News/ — Barcodes came into existence half a century ago to speed up the check out process at retail outlets, enhance customer experience and promote businesses. But the booming retail sector, ever increasing demand for faster check-out alternatives and increasing incidents of counterfeit items despite barcoding them, have forced technologists to strive for a fool-proof, reliable and still faster mode of dispatching goods at Point of Sale (POS) counters.

If the new technology unveiled recently by Beaverton-based Digimarc Corp goes viral, the black and white stripes will become extinct in another few years, to be replaced by a new concept called “invisible barcodes”, which are not only reliable and reduce the chances of malpractices, but also help faster checkouts.

The new technology will avoid POS counter staff to look for barcodes printed on items which consumes a second or two to locate the barcodes before running them across the scanner.

The Digimarc barcodes, not visible to human eyes, can be embedded with details of retail items and can be scanned by special barcode scanners.

To try this new path-breaking technology, grocery chain New Seasons in upscale Portland has signed up with Digimarc to use their technology at their retail outlets.  Accordingly, all the packed items on shelves were printed with barcodes that were invisible to human eyes. But, scanners equipped with new technology were able to scan them right away.

Digimarc has been working on digital watermarking for close to two decades with less success. “We have been slow but persistent,” says chief executive Bruce Davis.

In addition to easy checkouts, Digimarc feels that the new technology will help prevent frauds by stopping retailers from pasting one barcode over another and enable more attractive packaging.

Retailers are steadily upgrading their barcode scanners at check-outs from laser-based to optical imaging technology that works like a digital camera, and also compatible to Digimarc’s new technology.

If the visible barcodes got replaced in another few years, New Seasons, a relatively small grocery chain, will make history for being the first to adopt the invisible barcode technology in the world.

So, are we going to witness a slow and steady extinct of barcodes which can be seen on everything from soap packs to water bottles?

Not for a decade or more, feels Bhaskar Venkatraman, founder and director of JusTransact.com, an e-commerce marketplace selling exclusive POS products like barcode scanners, printers and POS peripherals.

Bhaskar Venkatraman, founder and director of JusTransct.com

Bhaskar Venkatraman, founder and director of JusTransact.com

 

“But, over a period of time, the barcode may become obsolete. As far as India is concerned, if the technology succeeds, we can expect the change in another ten years. Till then, 1D/2D barcodes will rule the retail points of sale,” he further added.

Media contacts

K Ramanathan,

JusTransact.com
G-19,2nd Floor, Block-16, 2nd Main Road
Ambattur Industrial Estate,Chennai-600 058
t : 91-44-43551366 | e : ram@justransact.com
m: 91-9384612789 | w: www.justransact.com

mPOS Set to Revolutionize Indian Retail Sector

Chennai, India, January 13, 2016 — /EPR Retail News/ — Indian retail market is evolving at a rapid pace riding on technology innovations and customers’ changing preferences for superior shopping experience.

A lot of changes had happened during the last decade at Point of Sale (POS) counters as customers increasingly prefer cash-less transactions, and businesses have readily adopted right payment system for faster check-outs and better payment management.

One of the best ways the brick-and-mortar retailers can handle faster check-outs at their stores is via mobile-POS devices. These devices are like hand-held smart phones that are capable of accepting payments through cards, providing instant receipts and storing data for managing inventory, sales and other back-end business functions.

India, with close to 500 million credit/debit card holders and 700 million smart phone users, set to trigger cash-less transactions through mobile POS devices and online transactions, say analysts.

As per an estimate by the country’s leading banker Reserve Bank of India (RBI), India needs another 20 million M-POS devices in five years from the current 1.2 million sets to provide alternative retail delivery channels to both urban and rural populace across the country.

Predicting that M-POS will be a game changer for Indian payment market in 2020, Bhaskar Venkatraman, founder-director of JusTransact.com, India’s first e-commerce marketplace exclusively for Point Of Sale (POS) technology and solutions, says: “There are two reasons which can trigger the growth of M-POS in India – mobile devices becoming ubiquitous across the country with widespread internet penetration and customers craving for enhanced shopping experience with fast, convenient and cash-less transactions.  M-POS then becomes the natural choice to bridge the gap and promote card-based commerce for retailers. Also, fast evolving technology has changed the use cases of M-POS devices. Along with M-POS, we also expect more demand for Tablet POS and Cloud POS devices as the present generation retailers are more inclined to use latest technology to offer sophisticated shopping experience to buyers.”

Apart from the convenience in transactions and high customer experience, retail businesses choose mPOS devices to close the deal the moment customers make a decision on products without giving them time to change their mind when they proceed towards the checkouts, says Nimish Chandra, who manages a retail showroom selling electronic home appliances in Bangalore.

Despite the anticipated surge of these ‘anywhere commerce devices,’ Bhaskar doesn’t expect that mPOS will replace the traditional POS terminals in the near future.

“I think, to begin with, there will be a very little displacement due to mPOS in emerging markets like India where traditional POS systems are still ruling the roost. However, in the SMB environments, tablets will offer an attractive to traditional POS and mPOS. The displacement will be minimal at least for the next five years,” Bhaskar, who is also a domain expert in POS technology, feels.

He predicts that India will emerge as a leader in mPOS users in the Asia-Pacific region by 2019 as there has been a huge dependency on cash-on-delivery for e-commerce transactions which will open the gates for millions of mPOS deployments across the country.

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justransact_logo

Media contacts

K Ramanathan,

JusTransact.com
G-19,2nd Floor, Block-16, 2nd Main Road
Ambattur Industrial Estate,Chennai-600 058
t : 91-44-43551366 | e : ram@justransact.com
m: 91-9384612789 | w: www.justransact.com

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