Small Businesses: The Ultimate Guide to Mobile POS Systems
Today, certain types of technology have the power to almost instantly process transactions. We live in a world full of people who’re becoming increasingly impatient, so if you’re a small business owner, the faster you can serve your customers the better. POS really stands for point of sale.
It’s fancy lingo that describes a place where a transaction or sale can occur. You can think of a POS as virtually anywhere money can change hands. Most consumers prefer to pay for products with a debit or credit card. POS systems are perfect for handling such transactions.
However, if you’re a small business owner, you need to consider mobile POS systems. An example of a business that can benefit highly from this technology is the travel bus industry. Through the use of a mobile POS system, an employee can print receipts, accept payments and take reservations.
The Benefits of Mobile POS Systems
These systems have several benefits to offer small businesses. First, they make it much easier for customers to pay. When a mobile POS is present, there is no need for customers to wait in lines. They make it possible for an employee to swipe a debit or credit card on the spot.
It’s a convenience that most customers will really enjoy. Another benefit is the ability to sell more products. A great example of this benefit exists in the airline industry.
With mobile POS systems, flight attendants are able to accept transactions on the spot, so they can sell significantly more beverages and food.
Nordstrom has implemented these systems in some stores, and the company is reporting a 15 percent increase in sales among the stores where mobile POS has been added. Another benefit is increased employee flexibility.
A great example is the increase in flexibility that mobile POS systems give to employees who’re managing sidewalk sales.
Instead of requiring customers to take products into the store to buy them, the employee managing the sidewalk sale can accept payment on the spot. Mobile systems also help to simplify expenses and fees, and they’re really easy to set up and begin using.
Unfortunately, there are some downsides to using this technology. One of the biggest concerns is security. Consumers wonder if these systems are really safe, and it’s likely that many customers won’t trust the technology.
Most cyber thieves target small to medium sized businesses because these businesses don’t always have the resources to implement strong security measures.
Another disadvantage is that these systems are known to hold onto funds for longer because of security concerns. Mobile POS systems are changing the way many small businesses operate, but they might not be the best fit for your business.