According to a report by global payments technology company Ayden, 26 percent of global online transactions are now completed on mobile devices. The company also reported expecting their POS device shipments to grow over 95 percent worldwide, and over 108 percent throughout North America.
This is all good news for companies that want to move into the mobile market, whether selling lunch from a food truck, in-person goods and services or a portable business in need of instant access to a point of sale system from anywhere. It’s tempting to just hook up your device to a smartphone or tablet and start selling. But not all POS are created equally. Here are some things to consider when shopping for a mobile point of sale system.
Get ultimate mobility with a cloud-based service. All data is uploaded and accessed from the cloud 24-hours a day from a remote server. Instant access makes it easy to sell on the go whether from a street fair, on vacation, or after an in-office presentation. A cloud-based system also offers instant upgrades to software and minimizes the risk of virus attacks and even credit card fraud. Vendors have more time to focus on their marketing and sales instead of worrying about how their POS is working. As long as you have a reliable Internet or WiFi connection, you can sell from anywhere with a cloud-based system.
Look for a POS application that can track your inventory as you go. Each sale should automatically update your records so you maintain accurate inventory for your customers. This is crucial for business owners with several sales people in the field who pull from the same pool of products. Take it a step further and look for a POS with reporting ability to take a deeper look at your customer habits and ongoing sale trends. Use the information you gather to adjust your inventory as needed or pull-back on items that aren’t moving.
Ensure your mobile point of sale system accepts EMV approved payments. EMV stands for Europay, Mastercard and Visa. The global payment standards are designed to improve payment security and make it difficult for thieves to use counterfeit cards. EMV cards don’t rely on magnetic strips, instead using an innovative chip technology to create a unique transaction code every time a sale is made. This means that transaction code can’t be replicated and used again.
Not all mobile point of sales system can read EMV cards properly. A system like Flint processes a variety of cards, and doesn’t need a dongle or additional hardware to do so. All vendors need is a smartphone, tablet or other mobile device to directly read the cards on the go.
Limited hardware and ease of use isn’t the only way mobile point of sale systems can reduce your overhead. Search for a cost-effective option that includes an intuitive interface, quick processing and security features. Some POS systems require a monthly fee, customer support charges and credit card processing fees. Others offer free trials or waive the monthly fee. The additional features may also tip the scales in your favor with customer rewards and point programs, ability to track employee hours and commissions.