Mobile point of sale payments
Thanks to vast improvements in technology, small business owners like you can afford to offer different payment methods to your customers. With the number of point of sale options only increasing in Canada, you now have the opportunity to do some research and choose what method will work best for your business.
The term ‘point of sale' or POS refers to the place where a financial transaction occurs.
Mobile POS systems are becoming increasingly popular amongst small businesses, as these systems offer similar performance capabilities as traditional POS systems; however they also provide the flexibility and convenience of carrying a mobile device.
What types of mobile POS systems are available?
- Traditional mobile POS systems typically consist of a credit-card reader that connects directly to a wireless device and works in tandem with a mobile application to complete a transaction
- Contactless mobile POS systems allow your customers to store their credit-card information electronically on their mobile device and pay for your products wirelessly through their smartphone or tablet
Benefits of mobile POS ?
- Improve customer service as your employees have the flexibility to interact more closely with customers
- Save time as customers no longer need to wait in line to pay with a credit card
- Easier set-up and operation than most traditional POS systems
- Limit expenses as mobile POS often depend on smartphone applications to operate and providers typically offer a flat rate for service
- Avoid a long-term commitment as most mobile POS system providers do not require you to sign a contract
What should you consider?
- Review the security policy of the mobile POS system you choose and disclose this information to customers that may be concerned with the security of their transaction
- Ensure the mobile POS system you choose offers a level of customer support that is suitable to your business needs
- You will likely require a dependable internet connection to complete transactions with ease
Each mobile POS system is different so do your homework and ensure the payment system you choose will best address your business needs.
For more details about how Information and communication technologies (ICT) can be used in your business visit our Using technology in your daily operations page.