According to Winter Green Research, total sales of mobile POS system devices will reach $3.1 billion by 2018.
Merchant Warehouse further reported, “In 2011, mobile payments totaled $100 million. By the end of this year , that number is expected to jump to $6 billion dollars.”
Mobile POS systems not only enable you to accept credit cards sales on the go – they also work within your business to augment the traditional POS terminal. Read on to see how your business can take advantage in 2013.
Reduce Customer Wait Time
You don’t have to be mobile to be using a mobile POS. Even if you operate from a bricks and mortar store or locally based restaurant, there are several ways you can utilize this up and coming technology.
- Bringing the device straight to the table will allow you to check patrons out faster. Cut out those multiple trips across the restaurant floor – back and forth to the cash register – with a mobile POS device.
- Cashiers equipped with mobile POS devices can reduce wait times in your storefront by checking out customers on the sales floor.
Accepting credit card payments at all means your business must follow the Payment Card Industry Data Security Standard (PCI DSS). Non-compliance with their security guidelines can leave your customers at risk and your business liable for penalties and lawsuits.
- Inherent in the upgrade to a mobile POS system is an upgrade to your business’s data security measures. After installation, your business will be able to offer your customers even better protection from credit card fraud and data theft.
Access More Customers
Mobile POS makes accepting sales easier inside your store and makes it easy to take your business out into the world. You don’t need a register, a power cord, or an internet connection – if your mobile device gets a signal, you can process credit cards anywhere.
- Take your business on the road to trade shows, special events, open-air markets and festivals. You can bring merchandise with you or arrange for inventory to be delivered straight to your customer.
Related: Start accepting credit cards, today
You may already be familiar with the festival and trade-show circuit – and its inherent pitfalls. Dealing solely with cash puts you and your business at both personal and financial risk. Accepting electronic payments reduces the amount of cash you must carry on your person while making sales outside your storefront.
In the event of theft or loss, having most of your sales in credit card format reduces the financial impact on your business.
Your mobile POS system can integrate with your inventory and sales tracking software. Even if you’re on the road, at a trade show, or selling to a client, you can access your inventory and financial data instantly.
Rather than having to wait until you’re back in the office, you can immediately find out how much you’ve sold, how much you have left, and how much you need to order for the next day.
Related: Mobile Payment Services: Yes or No
Lower Equipment Costs
When you’re starting a new business, you may not have the necessary funds to purchase and install an extensive traditional POS system and all its components – the register, computer, peripherals, and software.
However, in order to make sales and attract the large percentage of customers who no longer carry cash, you need to be able to accept credit card payments.
- The low cost of mobile POS as compared to a traditional system makes it attractive to businesses that are just starting out.
There are many reasons to switch to mobile POS or add mobile to your current POS system. It helps you keep track of your sales and inventory on the go, provides a cheaper alternative to traditional credit card processing, and increases customer satisfaction by way of shorter wait times and increased security. Make switching to mobile POS your new years’ resolution for 2013.