Did mobile point of sale seem like just a fad a few years ago? As more and more people began transitioning their daily lives from laptop and desktop computers to mobile devices, most of the buzz around mobile was the cool factor.
Giant screens. Longer battery life. More mature apps. They all screamed cool. But what we didn't realize is how functional and useful these mobile devices have become in allowing buyers to pay for goods and services no matter where they are.
A 2013 report from Timetric on mobile point of sale technology, reported an increase of 111 percent in operational mPOS devices from 2011 to 2012, and the number of devices is expected to rise to 38 million in 2017.
Merchants are looking for guidance in adding mPOS to existing payment systems, while ensuring the security of customer data. That spells opportunity for value added resellers like you.
You can help clients understand how mPOS can add value for customers, employees, and managers, with a few simple upgrades or a larger overhaul. Here's what you need to know.
Communicate the Benefits of mPOS
Including mPOS technology as a payment option offers a host of benefits for merchants of all sizes. Here are just a few.
- Enhance the retail experience: Shoppers turn into loyal customers when employees can address their individual needs by looking up product information, checking inventory, and processing payments without leaving the customer's side.
- Sell products and services anywhere: Delivery services, in-home sales, special events, food trucks, and many other types of businesses need mobile POS to be successful.
- Increase customer engagement: Businesses can pull plenty of data from mobile encounters, leading to more precisely targeted offers.
- Manage inventory in real-time: Integration of mPOS with business databases offers more accurate inventory information for warehouses and stores.
- Automate loyalty programs: Reward the best customers by tracking their purchases and using the data to serve up rewards at selected intervals.
- Speed customer transactions: Mobile solutions can accelerate purchases, shortening lines, and often increasing revenue at peak times of day.
Integrate mPOS With EMV
Are you working with more and more clients on upgrading POS hardware and software to get ready for the EMV Initiative that's happening in October, 2015? Then it's the perfect time to talk about mobile, too.
As you know, EMV cards with integrated microchips require upgraded card readers and changes in software to handle new data elements in an EMV transaction. So it's important that merchants invest in mobile POS with EMV capabilities.
Don't Overlook Connectivity
While many businesses are offering up wireless networks for customers, integrating mPOS may require a boost to the infrastructure. That's especially true for merchants with customers who bring their own devices and pay via mobile apps.
So be sure to recommend appropriate system audits for each customer. Start by evaluating wireless connectivity, and then use the results to help your client manage all the components needed for a successful mPOS system.
It's a great time to talk with your customers about mobile POS. What else do you need to know to start a conversation?