A mobile point of sale system is a computer hardware and software combination that allows retailers, caterers, tradesmen, restaurateurs and other businesses to accept debit/credit card payments by swiping cards rather than using cash or cheques. Mobile POS systems are easy to set up, affordable and offer considerable benefits over conventional stationary terminals.
How do Mobile POS Systems Work?
Mobile POS systems come with card swipe and PIN pads that can either be used both indoors and out and attached to a computer or tablet. Some systems allow users to input credit/debit card information manually rather than using a swipe pad, if required. Vendors use security software to process transactions and securely send information to the card issuer.
Customers pay for goods or services either by signing receipts or entering PINs on a keypad. It is possible to process transactions using mobile POS software at any location with an electrical outlet and cellular signal, allowing business owners to accept payments in areas where they previously could not – such as a construction site or a rural location.
What are the Advantages of Mobile Point of Sale Systems?
There are many advantages associated with using a mobile Increased Customer Satisfaction – Retailers and business owners who offer clients payment options beyond cash and cheques know that doing so enhances the customer shopping experience. Mobile point of sale systems allow merchants to provide customers with quick, secure payment methods while improving the buyer’s buying experience. As research shows, 1 in 4 consumers prefer paying by card and 3 in 5 consumers would rather shop at a store that offers cashless payments, according to The UK Cards Association.point of sale system, including: Streamlined Business Operations – Mobile POS systems eliminate the need for retailers to process sales transactions at their desktops or in a retail store, where running back and forth between the two areas takes up valuable time. By using a mobile POS system, retailers are able to conduct all transactions directly from their mobile device.
- Administrative Flexibility – Mobile point of sale systems allow businesses to process sales anywhere they have an internet or cellular signal, helping owners serve customers more efficiently and effectively. Mobile POS systems can be used both indoors and out, even in places where a computer or laptop may not have a signal.
- Guaranteed Data Protection – Mobile POS systems can help protect businesses from data breaches by using encrypted technology to process transactions, preventing hackers from stealing critical information. The encryption levels for mobile point of sale systems are generally stronger than those found on credit and debit cards. Additionally, these systems use tokenization and Secure Elements to protect information, so owners can rest assured that their customers’ vital details are safe.
- Increased Sales – An increasing number of businesses now complete sales transactions using mobile POS systems, as they offer numerous advantages over traditional checkout registers. These benefits include: increased employee efficiency, better customer service and the ability to process payments wherever and whenever they occur. Businesses using mobile POS systems to process transactions experience a 15 percent increase in sales and a 12 percent boost in profits, according to research by IDC.