What Are MPOS Systems?
Are you wondering how to improve your business’ efficiency? mPOS, or mobile point-of-sale systems, are an ideal solution if you need an easy option to replace traditional ePOS systems and increase the efficiency of your store. Market-Inspector allows you to compare supplier prices by offering you up to four free, non-binding quotes. Get started by submitting the contact form on the right!
mPOS systems or Mobile Point of Sale systems are basically any device that is used as a replacement or in a connection with traditional ePOS (electronic POS) systems, also referred to as online POS systems. This device can be a smartphone, tablet or computer, which can serve, in its basic function, as a cash register. However, using a smartphone or a tablet only as a cash register would mean missing on some other benefits that mPOS solutions can bring.
Implementation of a MPOS Solution
AmPOS system can be used in combination with a traditional ePOS system – extending its portability with the use of tablets or smartphones. This solution provides the shop with flexibility – within the shop or outside, can help with busy hours, and is cheaper than buying a computer platform. This option is suitable for businesses which are not ready to change completely to a mPOS system or think that having only mPOS system will not cover its needs.
Some businesses use mPOS solution as an exclusive POS solution in their operations where they will have a mobile device and a payment card reader that connects to an online platform. This is typically seen in smaller businesses, as this solution is cheaper (costs usually include a monthly fee).
A third way of using a mPOS solution is in the combination with customer’s devices. By using a smartphone or tablet a customer connects to the mPOS of the given business, orders and pays on his or her device. This solution is particularly useful for restaurants and bars.
Advantages of mPOS System
Lower Costs
The implementation price of a mPOS solution is lower than a traditional ePOS solution. The cost usually covers the price of the mobile device, the payment card validation device, and the online mPOS platform, all of which is usually leased on a monthly basis. This is the main reason why this solution is more popular with small businesses.
Moreover, when the business is not satisfied with the software/app, it is easier and cheaper to change to a different solution when having a mPOS system. It is usually easier to keep the device up to date than it is with traditional ePOS systems.
Reduced Checkout Times
A further advantage is that mPOS solutions can speed up checkout time, therefore reducing the time that customers have to spend queuing. This can result in staff working more effectively, especially in bars and restaurants and so the business receives a higher turnover.
Customer information & customer relationship management (CRM)
Also, using mPOS solutions gives the opportunity to email receipts to customers, which enables the business to gain valuable customer information. Loyalty programs also help identify particular customers – their purchase history, their preferences, trends in their buying, and also personal information like birthdays.
Loyalty programs, faster checkouts and staff assistance positively affects the customer satisfaction and may result in return visits. Plus, with detailed information about customers, customer relationship management (CRM) is easier to manage.
Mobility & Flexibility
One of the biggest advantages that mPOS systems bring is flexibility. Whether it is flexibility within the shop – staff can assist customers and make a checkout on the spot (and this way increasing sales), or flexibility outside of the brick and mortar shop – trade fairs, exhibitions and other locations are no longer an issue. Given the flexibility of staff within the shop, they can become consultant assistants to customers.
Accurate Inventory Management
mPOS systems can serve to store valuable consumer data. This information can be stored on the device to help staff remember all the needed information and therefore help customers more effectively. Knowing the price and availability of the given product can help speed up and increase sales.
Less Space Used
mPOS solutions can also free up space and allow more design freedom when it comes to the shop’s layout. Shops would no longer have to be centered around cash registers, and there will be more space in the back office.
In addition, there are many advantages that mPOS systems bring to restaurants. Faster ordering (order is sent from waiter’s device directly to kitchen printer), reduced errors while ordering and faster checkouts all result in higher turnovers. Customers don’t have to wait long to get a table and waiters have more time to make the customer visit more pleasurable.