With the advancement in technology there has been immense upgradation in POS systems as well. A POS system was introduced in order to record and manage transactions accurately. What once started as just a cash register has evolved into a powerful hub that manages sales, operational process, promotions and financial process with the help of digitisation and cloud technology. POS is a broad terminology referring to the entire solution while mPOS stands for mobile point of sale. You can browse through this blog in order to understand the difference between traditional POS and mPOS systems and the key benefits you can enjoy with the help of using an mPOS for your business.
Difference between traditional POS and mPOS systems
An mPOS is a smartphone, tablet or any other wireless device that performs the function of a cash register or electronic POS but it is done wirelessly. With the help of an mPOS you can cut down costs on bulky hardware. mPOS systems use cloud POS software and thereby you can access the data anywhere and at any time even outside the geographical location of your business. The use of mPOS enables more flexibility and convenience for the customers. In order to implement an mPOS for your business you need the following components.
● An internet connection
● A credit or debit card reader
● An application downloaded in the device
The user can then connect with the reader via mobile devices by downloading a POS app in the wireless device used for transactions. Certain mPOS systems accept payments even in offline mode. This enables your store to function even when the internet connection drops. For added convenience you can also pair the mPOS with hardware like a barcode scanner or cash drawer.
A traditional POS comes with a stationary terminal in comparison with an mPOS. This can be a combination of desktop or tablet, receipt printer, cash drawer, credit card machine and scanner. It requires the physical storefront to be open for the transactions to happen. The mobility aspect of mPOS applies to both the hardware and software. mPOS is lightweight, portable and offers more flexibility when compared to traditional POS systems. mPOS systems are also more secure as they are required to be up to date with the PCI Mobile Payment Acceptance Security Guidelines for Developers.
Benefits of using an mPOS
● Setting up an mPOS for your business is rather an easy process and you don’t need complicated technical knowledge for using it. The implementation process is quick and there is no need to buy a lot of hardware and advanced terminals.
● You can manage your business from anywhere with an mPOS system. The cloud POS software records and stores every data on the internet and therefore you can access it anytime as required using a wireless device.
● The use of mPOS facilitates faster check outs and saves time. You can provide an enhanced customer experience by enabling quicker transactions and reducing the waiting time.
● mPOS lets you connect with your customers more efficiently. You can update offers easily and implement an effective marketing strategy with the help of an mPOS.
● The analytics feature built in the mobile cloud POS system gives valuable insights for the smooth functioning of the business. The automated recording process lets you track and manage inventory and sales data accurately.
Summing up
During the past years the POS system has undergone many improvements. You can run your business in a more efficient manner with the help of both POS and mPOS systems. Cloud technology has empowered mPOS systems and it offers more flexibility and scalability for your business. Small business owners can benefit immensely with the help of an mPOS as it will integrate smoothly to other business systems and grow alongside the business.
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