Make payments easy and attract more customers
In a world where more and more customers prefer credit cards over cash, it’s not surprising that mobile POS systems are gaining huge ground.
If you are considering going the mPOS route, here are a few things you need to consider: If you do business in constantly changing locations, like an in-home service or weekend markets or festivals, people don't necessarily carry large amounts of cash along with them. You’ll have to deal with the disappointment of seeing a customer walk away because you didn’t have an alternative payment method to cash.
Be aware that mPOS may not work if the signal is limited
Consider the locations where you work, in rural areas signal may be very poor, whereas if you work in urban areas you should have no problem at all.
Carefully look at the transaction fees as well as the cost of the mPOS. Work out how quickly an increase in business will help pay off the machine. If more than 50% of your customers prefer cash it may not be a good idea. The fees vary from vendor to vendor and you want to make sure you make a profit rather than just breaking even because your cream is going to transaction fees.
Accelerate turnover amid high seasons and weekends
The dreaded queues, we all know them. At rock concerts you’ll move a lot more stock if you’re able to process payments quicker rather than cash and change. We all know the irritated looks of hungry people queueing for their artisanal paella at the food truck and you don’t want irate customers to walk away in exasperation with a slow cash system.
And finally once you have decided an mPOS is a sensible investment for your business, do research before you commit. Become familiar with their products, prices and fees. Make sure the supplier is PCI compliant, read their customer reviews and make sure they provide extensive training on the product and excellent after sales support.