With the growth in mobile businesses like food trucks, handyman, and vendors, and the increasing demand from many retail businesses for more portable solutions the mPOS category has grown quite significantly over the past decade.
Allowing businesses to turn tablets and smartphones with internet connections into fully-featured POS systems that can process debit and credit card transactions, track inventory and other functions you may expect from a standard POS system.
They are a great option for your store or business if you need a POS system that can be carried around with you or your staff members well making sales, whether it be to show products or other product information on demand, or create a more personalized sales experience.
To help you better understand the benefits of mPOS systems and choose the right mPOS system for your business we answer some of the most common questions on mPOS systems.
What is mPOS (mobile point-of-sale)?
A mPOS, otherwise known as a mobile point of sale, is a portable POS device that allows you to turn a tablet or smartphone into a cash register.
It’s a great option for businesses that are frequently on the go such as handyman, food trucks, or trade show vendors, who still need to be able to accept payments.
How Does mPOS Work?
mPOS work with your smartphone or tablet, typically in conjunction with an app and a card reader.
You will be required to download an app and open it on your chosen device to access the POS interface and process payments.
Once you have downloaded your chosen app it’s as easy as following its setup instructions to get started.
How to Choose the Best mPOS for Your Business
When you are evaluating mPOS options for your business you will want to consider a number of factors to ensure you make the best choice. We list some of the things we would consider when choosing a mPOS below.
POS systems can have a large impact on your business, from giving you the ability to track inventory, engage with customers, process payments, generate reports on your store’s performance, manage employees, and integrate with your other tools.
This means it’s important to look at what type of features you require, and what you are already covered for today with your current software.
You will also want to think about any software integrations you may require, whether it be to connect your accounting software or your own custom solution.
Ultimately, there is no right or wrong here, but framing your search in this light should help you narrow your choices.
Strong platform security is crucial to being able to operate a mPOS safely. You will want to ensure whatever mPOS you select features its own security functions to protect and prevent unwanted attacks, then pair these features with a secure wi-fi network.
This is crucial as most smartphones/tablets, as well as wi-fi networks nowadays, are susceptible to some sort of attack.
If you don’t take precautions your customers’ data could be a risk, something that can be easily avoided if you make the right purchasing choice and follow a few small security steps.
Price & Fees
All POS systems will be priced differently, but that doesn’t necessarily equate to better.
You can find free card readers, and POS with free trials as well as low-cost options, and great fully-featured POS options that require a monthly fee.
If you are looking for a dedicated POS expect plans starting from $19.99 per month with additional costs associated for hardware. Though Square offers a great card reader you can access for free.
In addition to general software costs, most POS will also have an associated payment processing fee that can start from 2.5% + additional fees depending on the payment type.
Set-Up and Implementation
Choosing an easy-to-use mPOS system that your employees will be able to learn without much hassle and that you will be able to set-up without wasting much time is crucial.
Make sure you understand what you are purchasing before committing your business to any specific POS system as you are likely to be using this software for years to come.
Most mPOS will require you to install an app and follow a series of set-up instructions, if you are using mPOS as a feature of your broader POS system then you will likely have to sync your data with your main system.
4 Benefits of a mPOS System
Now that you are slightly more familiar with mPOS you may want to know why they are a great choice for your business!
Our team has compiled four of the top benefits we think mPOS systems provide below.
Tired of always having to run over to your cash register? Want the ability to show your customers a digital catalogue of your products, or the product cost with taxes included?
mPOS Systems solve this problem for you and your business by providing highly portable POS solutions that can be carried around in your hand or pocket.
Most mPOS currently available are simple and easy-to-use, making them a great choice for business owners that are just getting started out, or those who just want to simplify their operations.
You can find card readers such as Squares for free, and many other mPOS options for quite affordable prices.
Most paid solutions typically start around $19.99 per month and give you access to a broad range of features you can expect to find on a modern POS like inventory management, payments, receipt printing, reporting and more.
Improved Customer Experience
With an mPOS you can reduce queue times and provide a more enjoyable, personal experience for your customers.
This convenience helps you elevate your brand and provide a better time for your customers in-store.
It also gives your employees more opportunity to chat with customers and understand their shopping needs.
In conclusion, mPOS are great for business owners who often find themselves on the go who are looking for an easy, and affordable solution for accepting payments that they can take with them.
So whether you’re a landscaper, market vendor, tradesman, food truck owner, or run a retail store a mPOS could be a great fit.
We hope this article helped you better understand how to choose the right mPOS system for your business, as always if you have any questions, make sure to add a comment below.