The mobile point-of-sale (MPOS) is a smartphone, tablet or a dedicated wireless device that can perform the functions of a cash register by allowing a merchant to accept payments from customers without being confined to a single location by using an internet connection, an application downloaded to the device, and a credit card reader enabling the device to accept cards. A mobile POS system is ideal for businesses such as food trucks, home and repair services, market vendors, etc. to take payment from credit cards, mobile wallets, NFC payments on the go.
The implementation of MPOS solutions costs very less compared to traditional ePOS systems. The total cost is actually the price of the mobile device, the device for card payments, as well as the online MPOS software, which is leased on a monthly basis.
Check out: Top POS Solution Companies
Improved Customer Experience
The exceptional speed and availability of mobile networks is driving consumer demand for a new class of experiences. Consumers expect to less waiting time, carry less cash and fewer credit cards and paper receipts.
Mobile POS enables hotel guests to place an order the moment they decide they want one, without waiting in line and make payment by a simple mobile wallet.
Apart from processing transactions faster, the MPOS can also store. For example, a restaurant can store its menu on the device and servers can quickly and easily answer diners’ questions to customers. A quick response means less time spent on a single customer and more purchases completed
In the MPOS device transactions are encrypted and card data is not stored on the device. This reduces the risk of a security breach and makes it quicker and easier to comply with regulations like PCI.
Cashless payment protects a business’s revenue streams and reduces fraud. As every transaction is recorded proficiently, it saves the money, time and human power used in accounting the sales. The total revenue and cash flow can also be checked in real-time. Another advantage of cashless payments is that taxes that need to be paid to and by your businesses can be easily computed with no error.