What to look for in POS systems: ESG

Over the last few days we’ve been investigating what makes for the best point of sale systems. So far, we’ve covered:

1. Multi-channel systems
   
2. Simplicity
   
3. Cost
   
4. Instant payments
   
5. Security

And now we’re moving onto something you might not automatically associate with POS solutions: ESG. After that, we’ll be moving on to how you can minimise the hardware your POS system needs, and how (and why) to ensure it integrates with your current processes.

But for now, let’s dive into the underrated connection between your mobile POS app and your business’s ESG credentials!

The importance of ESG

We all know about the increasing importance of ESG (Environmental, Social, Governance) or CSR (Corporate Social Responsibility) – in short, doing good and doing things right, as well as doing well.

In 2023, it’s vital for success in almost any field. If you want to attract customers, investors and the very best talent, you better have your ESG ducks in a row.

And that means more than throwing in a few buzzwords or giving your logo a rainbow makeover once a year. Today, consumers, investors and potential employees want to see the real-world impact of your ESG strategy, and want to know it’s baked into your operations. That’s why there’s been so much expansion of ESG regulation and accreditation, and a growing appetite for companies to publish transparent and comprehensive reports.

In fact, a recent report from Harvard concluded that there is a much-needed ‘emerging recognition that ESG extends well beyond normal issues of compliance or corporate social responsibility—it is a core issue of business strategy that requires significant board and C-level engagement and robust internal controls’. In other words, it should inform your high-level strategies and pretty much every facet of how your business operates.

ESG and your Point of Sale solution

So while it might not be front of mind as you seek the best retail POS system for you, it’s something you should consider.

After all, the point of sale is one at which your relationship with your customer is solidified. And if you can use it to enhance your positive impact on the world, why wouldn’t you? It's a fantastic opportunity to let your customers know their money won't just provide them with your products or services, but will also go a long way to support causes they care about.

But how can you do that?

By choosing Wonderful – an online payments provider with ESG baked in. Ask yourself: how many of your digital service providers offer their services completely free to charities? Wonderful does, because we believe ESG can be at the heart of every business.

We started working on Open Banking payments technology back in 2020, to prove that fee-free fundraising is possible – something we’re delighted to have done with tremendous impact. Our online giving platform, Wonderful.org, saves charities thousands of pounds on processing and platform fees, – money that is instead sent directly to the causes that need them.

And now, businesses and their customers are extending Wonderful’s reach and impact simply by choosing this speedy, simple and secure payment method to accept payments.

An inclusive approach to ESG

What’s great about this approach is that it also addresses calls for companies to support a broad range of causes.

As the environmental crisis gathers speed, poverty rates soar, wars continue to wage, discrimination of many social groups persists, and we face so many other world-shaping issues, companies might feel expected to ‘do it all’. Each of your customers has different causes close to their hearts, and prioritised in different ways.

Of course, it’s not realistic for you to plunge endless funds, time and resources into each one – as much as you want to. But because Wonderful supports so many charities and fundraisers across all of these areas (and more!), by aligning yourself with us, you’re covering your ESG bases. All while saving money, and making the checkout process swifter and safer for your customers!

Plus, as firms invest increasingly enormous sums into ESG, you’ll be making a savvy choice. The Wonderful Organisation’s completely free model means countless causes are saving thousands and thousands of pounds to put back into vital work. Because of Wonderful's innovative payment technology, the cost-to-impact ratio achieved by the fundraising platform is multiplied. So compared with traditional ESG investments, you get a much bigger bang for your buck – particularly as your business is actually saving money using Wonderful's payment processing services (you can find out just how much you’d save here).

In short, the positive impact you have will be bigger and wider reaching than a straightforward – albeit generous! – donation would be.

Embrace the future of Point of Sale systems and ESG

To future-proof your business, provide Open Banking A2A payments at the point of sale – and show your customers you care about the causes close to their hearts.

Not only will you showcase your broad-ranging ESG stance and make a huge difference in the world, but you’ll be enjoying the newest and safest payments technology with a host of benefits like:

• Increased satisfaction for staff and customers
• A streamlined checkout process
• Boosting sales
• Reducing costs
• Instant payments
• Heightened security
  

Plus, our friendly team is on-hand to support you through the simple onboarding and integration process, so that you can have instant payments sitting alongside your existing methods in no time. Register today! Cancel anytime.