If you’ve been on the fringes of the mPOS market looking in, 2020 is the year to get involved. Analysts predict that one-third of all POS systems sold in the next five years will be tablets or smartphones (i.e., mobile). So it shouldn’t come as a surprise that yearly mobile POS transactions are expected to triple by 2023. Related, 65% of retailers have identified mobile payments as a top in-store priority.
There are several reasons for this growth, and they all center around providing an improved customer experience. For example, we, as consumers, don’t like to wait in line. Mobile POS solutions make it easy for retailers to reduce or eliminate long lines by offering checkout from anywhere in the store. There have also been pilot implementations using mPOS solutions to enable self-checkout, which gives even more flexibility and control to the customer. Finally, there’s the aesthetic appeal of mPOS solutions, which many shoppers consider trendier and more appealing.
Apart from being a hot ticket item that retailers will be looking for in 2020, mPOS solutions dovetail perfectly with a host of other services and solutions. Here are just a few revenue-generating mPOS upsell opportunities:
- Payment processing—If you’re talking about mPOS with your customers, you also need to be talking about payment services. The latest payment devices are more secure, support new payment methods and offer value-added functionality than previous generations.
- Cellular failover routers—If a retailer’s primary Internet connection goes down, a cellular-enabled router can seamlessly kick in and allow the retailer to keep processing cards. This one pays for itself.
- Wireless networking infrastructure—mPOS requires stable Wi-Fi throughout the store. Most likely, enterprise-grade access points and routers will be required.
- Security—Begin with a site assessment and penetration testing to identify security weaknesses, then recommend firewalls, software and policies to protect the retailer and its customers.
- IP cameras—Surveillance cameras tied to the POS system not only help with loss prevention but also deliver useful data for marketing and planning, such as the number of customers in the store and how they interact with the layout of goods.
- Digital signage and kiosks—Supercharge your retail customers with Pro AV solutions built to drive sales.
Ingram Micro has you covered with any retail technology mentioned above, as well as ancillary services. For instance, if penetration tests aren’t part of your current skill set, Ingram Micro’s team can do it for you. Experts are available to talk to you about security, Pro AV, surveillance and more. With strong indicators signaling mPOS growth and a partner in Ingram Micro that can deliver ancillary solutions, services and support, your path to expanding your business and growing your revenue in 2020 is clear.
For more information on mPOS opportunities, contact Angela Lawrence
, Ingram Micro’s mPOS and payment processing expert.