Interesting Things You Must Know About Mpos

Knowing about new POS devices can be of immense benefit to you as a retailer. Customers always prefer to frequent business establishments that implement the latest technology to enhance their shopping experience. Be it the mobile POS system machine (mPOS) or the best online payment gateway, every new development in the POS realm brings you the immense potential to target new customers, augment your sales, and resolve your operational hassles.

5 Interesting Things You Must Know About Mpos

Decoding the Mobile POS System Machine (mPOS)

As the name suggests, a mobile POS (mPOS) is a portable POS device. It resembles a tablet or a smartphone, but it is a well-integrated POS machine with full-fledged transaction capabilities. Here are some of the key features of the mPOS:-

  • A mobile POS has all the sophisticated capabilities of an elaborate, wired POS setup. But the biggest advantage is that it is portable, sleek, and convenient to carry around inside the store, as well as for home deliveries and receiving payments on-site.
  • The touch screen functionality of the mPOS makes it furthermore convenient. It eliminates the need for input devices like mouse and keypads and also does away with the concept of a cumbersome keypad-operated POS device.
  • The instant generation of electronic invoices and receipts (and sent immediately to customers via email or SMS) makes it a highly efficient and much-coveted POS device today. No longer will your employees have to fumble with paper stuck in the invoice printer or spend precious time in filing, tallying, and unnecessary paperwork.
  • All the digital payment options that are in vogue today are facilitated by the mobile POS system machine. This includes UPI payments, all digital wallet payments, credit card, and debit card payments, as well as Scan and Pay Options.
  • The most popular mPOS devices are Android-based. This is owing to the seamless functionality and familiarity with the operating system. Of course, the functionality has to be customized as per the exact requirements of your business operations. For instance, the KOPs of a super-mart will be very different from that of a specialty restaurant, a salon, a clothing store, and so on.
  • Ever since the advent of the Covid-19 pandemic, in-store footfalls have plunged. Customers prefer telephonic ordering and doorstep deliveries. In this scenario, the mobile POS system machine is of massive advantage to business owners. Since this device is portable, Wi-Fi, and GPS-enabled in most cases, it can be easily used to collect payments from customers anytime and anywhere.

Does the mPOS have an inbuilt payment gateway?

While there is always a discussion about the importance of a well-built and reliable payment gateway for an online store, the significance of a good in-built payment gateway in a POS device is also mentionable. A payment gateway is a software application responsible for the secure and smooth transfer of funds from the customer’s account to the merchant’s account. It acts as a digital facilitator of all transactions, whilst keeping a virtual record of the same (cloud storage) at all times. For enabling the different digital payment methods to be active through the mPOS machine, it needs to have one or more payment gateways installed in it to streamline the transactions.

POS Service Providers

No matter what kind of mPOS device you wish to purchase, POS service providers in India have multiple options in varying budgets to suit all kinds of business requirements. So you might own a retail chain and require mPOS devices in bulk, especially for your home deliveries. Or you might own a standalone boutique and you need one high-quality mPOS device that not only enables transactions but also adds on the branding and positive customer perception of your establishment. At the end of the day, you can be assured of finding a mobile POS system machine and an in-built payment gateway that meets your budget and business requirements to the hilt.

Conclusion

Despite the fact that it has been several years since the advent of the mobile POS (mPOS) in the Indian market, a majority of business owners are still not aware of its features and benefits. Similar to how a robust online payment gateway is instrumental for the success of any e-commerce business, installing the right POS system machine is integral to the sales, profitability, and customer loyalty of a brick-and-mortar store,