Many retailers are piloting new technologies in their stores, but one type of technology in particular has the potential to change how a transaction occurs between a business and its customer: mobile point of sale (or MPOS).
Mobile POS solutions consists of a handheld mobile computer or device with a payment card reader and compact, portable printer. Once the store associate swipes the card, the data is encrypted and sent over a
wireless network. After the charge is authorized, the shopper signs the screen on the device and the associate prints a receipt on the spot.
MPOS opens up opportunities for organizations without four walls. It can be found in places such as farmers markets and on food trucks as well as on delivery trucks and trains. It’s used not only for queue busting in a store or tableside payments in a restaurant, but also for utility billing and route sales receipts.
Technically, it could even be used in places where cash or check payments are the primary option today, such as a home delivery business. Mobile devices bring the Internet anywhere – meaning online payments can happen just about anywhere as well, including places where building a traditional IT infrastructure might be a challenge.
A complete solution eases integration, enabling merchants to quickly move from installation to application. While this is just the start of the mobile POS journey, the potential to forever change the way a business interacts with its customers and customers interact with a business is tremendous.
Benefits of Mobile Point of Sale
1. Higher Engagement
Today’s consumers are knowledgeable and reliant on mobile devices to research prices and read reviews right in the aisles of the store. When armed with their own mobile devices, retailers never have to leave a shopper’s side.
They can look up a customer’s information, check inventory, verify prices, and quickly and conveniently check out a shopper. Mobile POS can empower the store associate as he freely moves around on the store floor. It also gives the retailer visibility into assets and transactions, which in turn gives them visibility into opportunities to create new value.
2. Increased Efficiency
Mobile POS can create new efficiencies. Some studies show that mobile POS terminals can speed up the transaction time, cutting the average transaction time in half and making contactless credit card payments five times faster than those requiring a signature.
When shoppers get ready to check out, they are ready to go, not ready to stand in a long line. Also, with less counters in the store, it frees up space for other uses. Based on changing shopping trends and needs, the retailer can “reset” a store without being concerned about fixed wires and stations.
3. Increased Sales
Using mobile POS can help retailers combat the trend of “showrooming” in which shoppers visit physical store locations to see and touch products in person, but then leave the store and purchase them online. Such technologies help the store associate provide an experience the shopper may not receive through an online store.
When associates are armed with information, they can help increase sales – whether that’s through closing a sale faster, upselling related products or pointing out an item the shopper may need with her planned purchase. They can also help make a sale even if the item isn’t located in the store by checking inventory in other locations, completing the transaction and giving the shopper a receipt right on the spot. Thirty-two percent of U.S. consumers expect retailers to have the ability to place an online order.
Mobile tools may even provide visibility into the supply chain, equipping the associate with the ability to look beyond store locations and determine when additional stock will ship and reserve items for consumers.
Learn More by Downloading a Case Study
Retailers who adopt mobile POS today are taking a first next step to creating a better customer experience. For those who do adopt them, they will do well with their customers, while those who don’t will seem outdated as consumers come to expect service when and where they want it, whether that’s inside or outside four walls.
To learn more about MPOS download our free retail case study here. Inside you'll learn what implementing MPOS looks like, and what problems MPOS can help you overcome.