For the past 3,000 years mankind has predominantly used currency to make payment or exchange value. For the past several hundreds of years payments were made in cash, an exchange based on the trusted relationship between a merchant and a customer, with a trusted instrument backed by sovereign governments and without any fee being incurred. It was a recent event since the mid 20th century that bank payment products, primarily financial cards or credit and debit cards, arrived on the scene. Visa the largest payment card provider in the world was founded in 1958 several years before the first mobile phone in the mid 1970’s and twenty years before the Internet, which arrived in the late 1980’s. The majority of humanity now has a mobile phone so two questions to ponder; why are most mobile payment schemes based on a financial product (other than cash) and why is cash still so resilient ?
ApplePay, Android Pay, Ali pay and WeChat Pay are all based on a “core bank payment engine”. YodoPay alone is advocating a return to less costly, more trusted cash as the core payment engine for mobile payments. Cash has lower transactions costs, zero danger of identity theft (one of the fastest growing crimes) and cash based system tends to be less fraudulent. But wait,”how can one structure a cash based mobile payment system that is efficient, safe trusted and regulatory compliant?” The answer lies in leveraging the routine daily cash handing practices of small merchants and setting realistic balance limits on the mobile cash accounts. General worldwide Money Service Business (MSB) regulators are rightfully concerned with anonymous money transfers due to money laundering but rather than throwing out cash, a method of exchange faithfully serving mankind and still preferred by a majority of the global population, why not use modern technology to perfect cash in a digital form. When regulators set balance and velocity limits on digital cash, government (the people) are better able to control both the transaction costs and fiscal policy (the money supply).
Watch the video that explain this merchant centric process.
Yodo has therefore adopted a mobile cash based system, with zero bank dependencies, which leverages the merchant’s standard cash handling processes. Yodo calls this system YodoPay and it can be used to make payments in retail or online and to perform novel P2P services such as non-profit remittances or the sharing of “purchasing power” across town or across the globe in real time and with automated FX. The whole system is transparent safe, highly efficient and industry compliant. Customers do not need a Credit Card or a Bank account, in fact they do not even need a mobile phone to participate and benefit from Yodo’s payments infrastructure. There are no transaction fees leveraged on the merchant or the consumer for P2B payments. At the same time as consumers enjoy the ease and simplicity of cash transactions every single transaction is fully auditable and merchant settlement, between and among registered merchants worldwide, is performed at the top of the pyramid via fund transfers at licensed financial service providers all backed by Yodo’s block chain mechanism and cloud computing environment.
Yodo is proud to offer affordable POS services free of transaction fees to merchants, with mobile payment, money transfer and content delivery for only a modest monthly subscription fee. Yodo is also proud to partner with SUNMI leaders in Android POS devices. Be brave, know no limits – join Yodo as they disrupt the status quo and level the playing field while enhancing fiancial inclusion with brilliant techncal innovation. You can find Yodo`s mobile payment and POS apps on SUNMI’s App and Google’s Play Store.
Sunmi will attend RetailNow Las Vegas which is one of the most important retail show on the West coast of USA. For Sunmi it will be the first time we attend fair in north America.
The show start 6th of August to 9 th of August. It will take place in Paris Hotel in Las Vegas, Nevada. Hope all our business partners in USA can join the show and come to our booth say Hi !
Sunmi Apps Store is the biggest commercial Apps market in China with more 1800 applications uploaded by our partners, and it is increasing with at least 7 Apps everyday.
In this column we will share some stories behind these Apps and show you in the new era how to develop your business with more suitable way.
Mr. Blue CEO of a ERP developer company
Mr. Blue’s company is mainly engaged in developing commercial ERP solutions, the management team have more than 20 years of experience in the software industry.
He received a request from a Zhangzhou company, who produce and process for “one of the only existed Japanese traditional bamboo sword ( called Shinai) families in the world”.
The Japanese bamboo sword must be hand finished and can never be put in commercial production lines, only for better protection of traditional crafts and spirit of Japanese shinai making.
Workers of this factory are very professional artisans, with decades experience in crafting, but just like most craftsmen, they do not like and use the computer. All production schedule can only copy by hand billing.
Then comes the problems:
1. Handwritten billing is low efficiency and bad effect.
2. Information collection and files management are time-consuming and laborious.
3. The work transition cycle is long, capacity is wasted in the accumulation.
4. Complicate wage settlement, hard to record and calculate working time, pieces and overtime working
5. Process situation can’t be recorded and checked until the final warehouse registration.
6. Workers reject the use of intelligent equipment because it’s complicate and they don’t want to cost time to learn it.
How Mr. Blue solve all these problems and at the same time continue their traditional hand craft?
Customized ERP which based on the production process + Extremely easy operate intelligent hardware with printer, scanner, etc.
Target: easy to understand, easy to operate, factory artisans can use it without any training.
1. Low training cost, easy to operate!
2. No handwritten billing, convenient and efficient working receipt printing!
3. Clear working receipt transition, promote capacity.
4. Check production schedule at any time, easy to manage!
5. Record data fragment at any time, reduce error rate, save both time and labour!
6. Extra workforce has been saved and management team can also be put into production!
Factory boss review:
I’m so satisfied with this solution!
Since the deployment of Sunmi V1, we completely abandon the traditional hand billing and simplify work processes, reduce errors, improve production capacity. Workers also enhance the personal income. Most important is the convenient simple interface and operation of Sunmi V1, workers like to use it at the first day without any rejection.
SaaS (Software as a Service) has shown strong upward trends in recent years, and is predicted to increase at an exponential rate. In 2015, sales of SaaS products are $8 billion, $12 billion in 2016. Research analysts forecast a growth to $16 billion in 2017, and till 2026, it will reach amazing $55 billion by continued growth year over year.
What’s led to this? Shifts in technology, particularly mobile devices and reliance on digital, says Gartner.
Forbes: “SaaS technology will replace infrastructure-and platform – based services as the dominant computing solution for businesses by 2018. “
SaaS programs are downloaded like any other mobile or tablet Apps over the internet; restaurants/retail store could choose or even customized a SaaS program.
SaaS POS (point-of-sale) is the most popular SaaS program for restaurants and retailers, below is the reason why they choose SaaS POS:
1. Less Investment
Traditional POS requires business owners to invest in computer hardware and software which may cost tens of thousands of dollars.
SaaS users pay a monthly or annual fee to use the program of their choice, which is typically designed for consumer-grade Android or IOS devices, like Sunmi T1.
2. Free Choice
Most business owners are complained about the high costs and frustrations of upgrading and maintaining a traditional POS system.
SaaS users don’t have this problem. If the POS program is not satisfied, they can cancel it at any time without losing their investment, and then install another one at the same hardware.
4. Unlimited Access
Cloud POS systems allow restaurateur/retailers to access all of their POS system information freely because SaaS POS software is accessible online.
Through SaaS, users can log in to their accounts from anywhere, through any devices with internet access, and connect with their data in real time. This flexibility is not available through traditional POS and is a huge help to owners and operators who are constantly on the go.
5. Data Security
Traditional POS system stores all the data, including complete and unencrypted credit card and customer data that is vulnerable to hackers. Also, on site servers are limited by their storage capacity.
Since SaaS systems rely on cloud-based servers, they offer an unlimited amount of storage space. Also, most cloud-based POS systems have high-level encryption processes that do not require credit card data to be saved in the system.
6. Flexible and Adaptable Software
Cloud-based POS, is designed to be responsive to changing circumstances. Adjusting your device layout or adding new menu items takes moments, not hours, and changes sync to all connected devices instantly.
We should also notice that a complete SaaS project contains Cloud systems, SaaS product and intelligent devices.
Cloud systems allow owners to access analytics to improve their sales and service from any device with an internet connection.
SaaS products give business owners the most thoughtful features, automatically.
Intelligent devices allow ordering, checking and paying all the functions to be made faster, and more accurately.
The whole world focus on Cloud systems and SaaS but ignore that all the functions need an intelligent device to realize. So in spite of so many advantages, SaaS still feels new to most restaurants and retailers, because they cannot find a single device that could meet all the request.
That’s why we built Sunmi. We want to make the best Android POS devices, compatible with all SaaS programs, built-in necessary components (scanner, printer) to achieve all functions.
While mobile payments have been off to a slow start in most of the Western world—even the rollout of EMV chip payments in the United States is far behind schedule—China has become the melting pot for mobile payment solutions.
The mobile payment space has become fiercely competitive, with both market leader Alibaba and messaging giant WeChat scrambling for valuable market share. However, what was once a strictly domestic affair has expanded abroad, with China’s mobile payment providers now battling for Chinese tourists’ mobile payments on the global stage.
For overseas destinations, hotels, retailers, restaurants, and tourist attractions, this makes the Chinese payment landscape a lot more complicated than it used to be. Until recently, accepting payments through the Chinese government-backed UnionPay interbank network used to be the gold standard for payments made by Chinese tourists. Indeed, updating the points of sale terminal (POS) to accept UnionPay and slapping a UnionPay sticker on the front door was all that was needed to reach the forefront of Chinese payment implementation.
Which hardware to support Chinese mobile payments global expansion ?
The good news is that, given the fierce competition between WeChat Pay (Tencent) and Alipay (Ant Financial Alibaba Group ), Chinese mobile payment providers are now doing their best to rapidly expand overseas by implementing a wide range of local partnerships. As partner of Wechat Pay and Alipay, Sunmi plays a key role in the business expansion.
First Data (NYSE: FDC), a global leader in commerce-enabling technology, and Alipay, one of the world’s leading online payment platforms, today announced that North American businesses will be able to accept the mobile payment service and expand Alipay’s already significant business base. First Data will implement Alipay at the point-of-sale for its four million U.S. business clients.
Citcon, an integrated mobile payment and marketing platform to connect global merchants with Chinese travelers, announces partnership with WeChat, China’s leading mobile social communications service with 846 million active users run by Tencent Holdings. As the first payment partner of WeChat in North America, Citcon will enable millions of businesses to accept WeChat Pay, one of China’s most popular mobile payment methods.
Now merchants will be able to accept WeChat Pay via Citcon’s smart mobile point-of-sale (Sunmi V1), easy-to-integrate API and software products and optimize growth both online and offline, with an easy and affordable rate compared to credit card processing.
In O2O business it’s well known that Baidu Takeaway company, called in Mainland China ” Baidu Wai Mai ” had a Strategic Cooperation with Sunmi Tech since June 21th, 2016.
Baidu Takeaway intends to optimize user experience and order process at partner restaurant, as well as improving the loyalty of merchants, through unprecedented hardware equipment.
As an innovation-based enterprise with 20 years of experience in the development and manufacture of Android POS products, SUNMI developed highly secure Android operational systems specifically developed for intelligent commercial scenes. Through this system, merchants can not only receive orders, but can also download apps to meet diverse needs, such as queuing, reservations, verification, cashiering and membership management. This cooperation made Sunmi one of the best partner of Baidu Takeaway.
After 11 month, it have been proved to be a right decision. There are 194 million Food Delivery customers in China now, and market in Q1, 2017 reach USD 12.9 billion.
As one of the top three food delivery platforms in China (Baidu Takeaway, Meituan, ele.me), since using Sunmi V1, Baidu Takeaway is the fastest delivered food delivery company in China according to end users. Furthermore customer using rate of Baidu Takaway increase to 63.6%.
Since 1981, Computex has been the world’s leading B2B ICT/IoT (Internet of Things) trade show.
This year more than 1600 exhibitors from 30 countries will show you newest innovation products, technologies and forecasts.
As an Android POS Leader, Sunmi will be here to bring you the revolution of payment solutions and commercial equipments.
We design and manufacture smartest payment devices: Sunmi P1, which combines mobile POS applications and mobile payment systems .
Sunmi P1 helps China step into “Cashless Society” cause it could accept all payment method: Bnak card, NFC, QR code payment.
Want to know how we change life, come and meet us at:
1F Nangang commercial solution zone, booth K1101 (May 30-June 3, 2017)
Can’t wait to see you there.
These days we just brodacast on our youtube channel our last video about Sunmi T1. Introducing SUNMI T1, an Intellegent Android POS device which take care of all your retail needs, en help your enhance your daily base business.
Sunmi T1 is probably the most advanced android based cash register available today on the market. Sunmi T1 will go in 3 different versions,
- 14″+ 14″ double touch screen
- 14″+7″ customer screen ( non touch screen)
- 14″ mono screen.
Some accessories like 3G SIM slot and NFC card reader can also be add to your Sunmi T1 units. All Sunmi T1 units can be manage on Sunmi Cloud platform, which is our own MDM, Mobile Device Mangment platform.
“Enjoy cutting edge technology for retail with Sunmi T1“