Here are 10 ways that mPOS solutions can help merchants streamline operations and better serve customers.
1. Extend the register.
Forcing customers to stand in fixed checkout lines can lead to abandoned purchases and increased rates of consumer dissatisfaction. mPOS gives employees the flexibility to complete transactions anywhere in the store.
2. Easily upgrade POS terminals to EMV.
As liability for some fraudulent transactions has shifted from card issuers to merchants, many business owners are scrambling to get EMV-ready. Most mPOS terminals in the marketplace today can process both chip-card and magnetic-stripe transactions.
3. Find out what customers are buying.
When you tap into the back-end reporting features of mPOS software, you'll find out which of your customers is buying what. That leads to a better understanding of the wants and needs of your core customer base.
4. Handle peak traffic with ease.
When you add mobile devices to your point-of-sale (POS) arsenal, you'll never worry about missing out on sales during times of heavy customer traffic. That's because you can move employees out from behind the counter in order to take orders, check inventory, and complete sales and returns without any extra effort.
5. Identify underserved target markets.
Once you know what interests your customers and what they avoid, you'll probably find some new subsets of consumers to serve. This information helps you decide what products should stay and what's just wasting shelf space.
6. Target customers with personalized messaging.
As you gain more data about your target market and their buying habits, you can serve up more relevant messaging. Think coupons, sale alerts, and information about new products that fit with past consumer behavior.
7. Integrate mPOS software with your business systems.
You're already running software in order to handle accounting, inventory, and other back-end tasks. Why not run your entire management suite via the POS terminal? You can access all your business systems using mPOS terminals and the wireless infrastructure that goes with it.
8. Free up space.
A traditional POS system occupies significant real estate within your business. And there's no easy way to relocate this hardware. As you shift to mobile devices, you'll gain floor and counter space that can be put to better use.
9. Use mPOS in order to upsell.
Especially for businesses in the hospitality industry, mPOS devices are a great way to upsell and cross-sell products that fit with your customer's initial order. Adding specialty drinks and extra toppings and upsizing orders boost your average check and often get your customer to try something new.
10. Increase average transaction value.
A commonly cited study by Dun & Bradstreet found that when consumers pay with a card rather than cash, the amount of the transaction rises by 12 percent to 18 percent. And the speed of a mobile payment rivals that of cash.
A diverse array of businesses is already reaping the benefits of this game-changing technology. Are you tapping into this trend?
How is mPOS changing the way your clients run their businesses?