Seeing as we live in a digital world, it is no surprise that Mobile Point-of-sale terminals are increasing in popularity. A Mobile Point of Sale (mPOS) is a tablet, smartphone, or any other dedicated device that works like a cash register, but in a wireless manner. This option takes small businesses on the go by way of transforming how all their transactions are done. If you happen to interact with clients outside your usual geographical location, then an mPOS is exactly what you need!
You’ll find Mobile POS Terminals particularly useful if you are a retailer:
- Doing business at a trade show
- With some slightly limited space
- Seeking to revolutionize your customer experience
- Looking to streamline your entire sales/ transaction process
The only thing that is required for you to set your Mobile POS Terminal up and running is a good internet connection, a great mPOS app installed on your preferred device, as well as a debit/credit card reader. The user then proceeds to download an mPOS app before connecting the reader to their specific devices. It is also possible to pair this wireless terminal with other Point-of-service hardware including cash drawers and barcode scanners.
History of POS devices
The first-ever Point-of-Service system was invented by James R., an Ohio-based salon owner, in 1879. Using this cash register, users could record error-free transactions, allowing for better capital management and bookkeeping. In 1884, James sold his creation to the National Cash Register Corporation. Towards the beginning of the 20th century, a cash drawer and receipt paper roll were added on by the NCR. By the 1900s were advancing, the cash register had become a digital machine, well equipped with thermal printing technology, credit/debit card magnetic strips as well as an LCD screen.
In 1973, IMB brought to the market a computer-based POS (Electronic Cash Register), which greatly enhanced the service industry, especially in restaurants. As restaurants received error-free, clean receipts that were tax inclusive, the entire check-out process became simplified. What followed was credit card processing. Gene Mosher introduced the first touchscreen (graphic) for his New York restaurant; using the system, he could easily customize and send out orders in just a few finger taps.
Microsoft then capitalized on Gene’s innovation and brought to the market the first-ever commercial Point-of-Service for clients in restaurants. This became the main point of reference for Mobile POS systems. As the internet revolutionized the way of doing things, credit card transactions could now be performed at tolerable speeds. Businesses were now able to create detailed and accurate reports of all their transactions, whether by credit, cash or check. While POS’s exist in an array of forms, the adoption is mainly common to restaurants.
Hardware POS vs. Mobile POS
Conventional POS systems make use of receipt printers, desktops, and credit card machines or cash drawers. This kind of setup is more of a permanent one, and it is ideally cumbersome. Mobile POS Terminal systems, on the other hand, are more portable and allow for numerous transactions regardless of where the business moves to. Given their versatility and portability, they are a better option for mobile businesses including flea markets, home repair services, food trucks, as well as market vendors.
What are the Main Advantages of Mobile POS Terminal Systems
Given their portability, mPOS allow for transactions to be conducted without the business being necessarily tethered to their geographical location. This way, wait times are greatly reduced and services sped up. Mobile POS Terminals help in freeing up real estate space that would have been dedicated to counter-top POS.
With an mPOS, the business owner does not have to invest in expensive electronic registers or even pay extra for their software support. Compared to traditional POS systems, Mobile POS systems are way cheaper. The latter make use of cloud-based subscription models that translate into reduced maintenance payments (monthly) in addition to lower initial costs.
Enhanced Customer Experience
Heavy traffic in your business can happen even when you have conventional POS systems installed. To help reduce congestion, you might want to consider mPOS, seeing as the offer faster transaction times. With this technology, you can incredibly boost sales, seeing as you can sell you your customers from any location within your store or exhibition space.
Mobile POS Terminals have encrypted transactions and the debit/credit card data is not usually stored on the device. This greatly reduces the risk of any security breaches while simplifying compliance with security and privacy regulations.
What Should I look for in a mobile POS system?
The trick is in looking for a system that makes your business ultimately flexible, without compromising on security. Below are some capabilities in a Mobile POS Terminal to be on the lookout for:
- Cloud based- All information should be backed up online automatically
- Low fees (transactional) – Be sure to do your due diligence in finding out what costs are charged by your mPOS company
- Diverse payment options: – Your Mobile device POS Terminal should be both EMV and NFC compliant. The former means that it can accept chip cards while the latter means that the system allows for Apple Pay, Samsung Pay, Google Wallet, and such like methods.
- User-friendly- The interface should be straightforward in understanding, thus not much time is wasted in employee training
- Offline mode supportive – In the event you lose your wireless connection, the system should be in a position to process transactions, make changes to orders, honor discounts & coupons, and even award refunds accurately.
- Support your specific line of business- Be sure that the mPOS supports features such as employee-scheduling, inventory management, customer tracking and any other useful tool that makes it easier to run your business
Visit Elly to see how you can get your free mobile POS today!
At Elly, we synergize POS services and other payment methods into one holistic solution. This way, we transform our Mobile POS Terminal systems into tools that will not only revolutionize how you do business, but also take your business to a whole new level! We help empower merchants by way of creating an international POS solution that embraces diverse payment methods.