If you’ve decided to invest in a mobile point of sale (mPOS) solution for your retail stores, you’re already aware of the array of benefits it offers your business. However, many retailers face challenges in implementing their new mPOS technologies. That’s why it’s important to have a plan in place to address these obstacles.
Many independent software vendors (ISVs) across a wide range of industries, including retail, hotel & lodging, healthcare, etc., are building innovative mobile point of sale (mPOS) payment solutions. These solutions include mobile applications that allow merchants to run their business from a smartphone or tablet and are coupled with an mPOS card reader to accept card-based payments. To be able to accept payments, these applications must comply with the latest payment industry standards and be certified to securely accept EMV payments.
Traditionally, mobile point of sale (mPOS) solutions were aimed at micro-merchants and smaller business with limited resources. These businesses needed a payment acceptance option that was not only cost effective but gave them the mobility to do business outside of a brick and mortar location.
Over the years, payment terminals have evolved from just being used for accepting payments to providing merchants with ways to boost their business, learn more about their customers and enhance in-store experiences. Today’s smart terminals are equipped with powerful operating systems that are capable of running third-party apps, which help merchants achieve these goals. Whether you’re a merchant or a solution provider, you should be aware of ways smart terminals can be used beyond just accepting payment. In this blog post, I list four ways you can get more out of your payment terminals:
A few years ago, there was considerable buzz in the retail industry about the enormous potential of mobile point of sale (mPOS) and its ability to transform the in-store customer experience. With online competitors driving new consumer expectations and shopping behavior, this was seen as a key strategy in blunting the competition and giving brick and mortar merchants an upper hand.
