Until recently, point of sale systems were typically aimed at big business. They involved bulky (and often costly) equipment that usually didn't allow small retailers and restaurants to reap the many rewards of POS technologies. However, thanks to the growing popularity of mobile point of sale systems, businesses of any size can increase profits and boost their overall customer service thanks to mobile POS. In this guide, we'll discuss the basics and benefits of mPOS, as well as share a few tips that may help you to decide if it's right for your retail or restaurant business.
What is Mobile Point of Sale?
A mobile retail point of sale system allows retailers to carry out customer transactions by using a tablet or smart phone. There is no need for a physical cash register, and purchases, orders, and returns or exchanges can be handled on the go. Restaurant point of sale systems are also ideal for independently owned dining establishments, cafés and the like. There are even mobile card readers (now widely available) that enable small business owners to accept credit and debit cards via their mPOS systems.
Benefits of mPOS for Small Businesses
There are a variety of advantages associated with mobile point of sale systems, such as:
• Businesses of any size can use mobile point of sale systems to accept various forms of payment, making it more convenient for the customer to purchase goods and services. As such, having a mPOS system can increase profits and enhance overall customer satisfaction.
• Point of sale systems used to be reserved solely for major retailers, primarily due to the fact that the systems involved costly equipment and high transaction fees. However, thanks to mPOS systems, even small businesses can afford to have a POS system in place. This means that they can compete with big-name retailers and restaurants.
• Even small business owners who are on the go, such as mobile service providers, can offer their customers and clients the opportunity to pay by debit or credit. They'll no longer need to call in credit card transactions or accept checks (which have a likelihood of being returned).
• If you have a small business that tends to get busy at certain times throughout the day, mPOS will enable you to check them out faster and reduce line lengths. This typically results in more sales and happier customers.
• Gain the ability to access up-to-date inventory, email receipts to customers, and close a sale anywhere. Mobile point of sale systems also allow you to finalize purchases more quickly (which leads to increased customer service) and to offer add-on items conveniently during the sale.
Things to keep in mind when switching to a mobile POS:
Virtually every small business can benefit from a mobile point of sale system. However, there are a few things you may want to consider before making the switch to mPOS:
• Do you have a setup in place wherein you can print the customer a receipt once they check out via the mobile point of sale system?
• Will there be a station where customers can pay with cash? Can you refer them to your traditional point of sale checkout if they aren't using a credit or debit card, or have a return/exchange?
• Will you be asking your sales associates to gather personal information from the customer in order to grow your mailing list? If so, how will you be inputting that information into your mobile POS system?
• How are you planning on bagging or wrapping the purchased items? Will there be a bagging station, or will sales associates carry bags with them within the store?
• If you are using a restaurant point of sale system, will you ask your servers and hostesses to take care of transactions at a central location within the restaurant, or will be they settling the bill tableside? How will the checks be printed, and will you give the customer the ability to leave a gratuity via the mobile POS system?
There are a myriad of advantages associated with mPOS, particularly if you are a small business owner. You'll have the opportunity to not only offer superior customer care, but may even reduce your operational costs when switching from traditional POS to mPOS.
If you're a small business owner who is looking for a way to boost business and gain ground in a competitive market, mPOS systems may be the solution for you.
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