A mobile point of sale is a system in which POS software is installed on handheld, mobile devices, such as an iPad or Android tablet or smartphone. The device functions as a mobile cash register and terminal to process sales transactions. Equipped with wireless mobile point of sale devices, employees can check-out customers or access inventory information from anywhere within the store.
Mobile POS (mPOS) uses a smartphone, tablet or dedicated wireless device to expand the capabilities of a retailer's point-of-sale terminal. mPOS technology provides several advantages to store owners, managers, sales employees and customers.
Well over a century ago, the cash register enhanced the shopping experience and served as the hub of in-store commerce. A point-of-sale (POS) has traditionally been a physical point where customers go to complete their purchases. This is no longer the case.
The growth of cashless payments and mobile payments means that a point-of-sale is no longer required to also double as a cash box. This, along with advanced features and the increasing capabilities of smartphones and mobile devices, gave birth to a new type of POS: the mobile POS solution, based on smartphones and tablets.
The mPOS market has expanded rapidly, enhancing the sales process and customer experience through convenient customer transactions, particularly in brick-and-mortar stores. The global market was worth $17 billion in 2017 and is expected to grow to $55 billion by 2024. The mPOS revolution goes far beyond simply swapping out old hardware. As a result of the shift to mobile devices, retailers now have new tools with an integrated solution at their disposal to improve the customer's shopping experience and business functions.
One of the many advantages of mobile innovation and technology—business software, hardware solutions and device for payments—in retail is it allows sales associates to move away from the cash register and closer to the customer. mPOS has many benefits to retailers, some of which are detailed below:
Customers are increasingly want businesses to offer digital receipts. Additionally, from the retailer's perspective, email receipts are an excellent way to capture customer history and information while simultaneously ensuring a fantastic customer shopping experience. Direct customers' email addresses can be collected easily with a mobile POS system linked to your point of sale, while paperless receipts are sent directly to customers' emails.
For future visits, the customer's receipt preference can be stored in the database using this system in conjunction with your customer loyalty program and an ERP system. Alternatively, to give you a competitive advantage, you could request customer information before they are in line to check-out, so when they arrive at the check-out counter, their receipt preferences and personal information is already saved. This not only improves the check-out experience at the store but facilitates a speedy check-out process.
Consumers' perception immediately changes when you upgrade your equipment. Customers will be impressed by the innovative and forward-thinking appearance and feel of tablet-based POS terminals. This reassures them that you understand how to use technology to enhance their shopping experience. mPOS systems begin to shine after the initial learning curve.
Put yourself in the shoes of this customer in your store: A customer rushes in, scrambling to find a last-minute birthday present for her friend. This customers come to your store all the time, but the item she need isn't something she usually buys. At the check-out counter, a member of your sales team removes the iPad and walks with the customer to the shelf where possible gifts are displayed. While your shelves do not have what she’d like to buy, your salesperson finds what she’s looking for on your distributor's website and places a rush order. Your customer is now satisfied.
Mobile POS software can help retailers expand into new channels while still providing white glove customer service, as in the aforementioned example. An eCommerce presence that displays and sells products 24 hours a day, seven days a week gives you the ability to capture a larger share of the market through an expanded reach for customers.
Mobile POS systems work because of the cloud. An important benefit of cloud technology is that it contributes significantly to the adaptability of mPOS systems. Mobile devices loaded with point-of-sale (POS) apps allow retail sales staff to use the cloud in new ways to improve sales conversion rates. A cloud-based point-of-sale system has numerous other advantages worth noting.
When data is stored in the cloud, it is no longer bound to local POS hardware. Data loss, corruption and theft are all eliminated when physical storage devices are removed from operations. Because electronic transmissions are secure and encrypted, valuable information cannot be intercepted or decrypted. Through the use of these security measures, customers can be confident that you value their personal information and will treat it with respect.
Retailers that use mPOS systems and cloud-based apps and data storage can stay competitive in any market. A mobile POS solution that runs all of your processes in the background ensures orders are fulfilled on time and that the data required to make accurate forecasting predictions are highly accurate.
The first and most important benefit of a mobile POS solution is the newfound freedom it gives you to operate your business from virtually any location. Mobile POS platforms let you use tablets and other mobile devices, such as smartphones, to better serve your customers. There are several exciting advantages for retailers that use mobile devices, including:
Using a mobile POS app is required for mobile devices to effectively carry out sales and other tasks. When reviewing a mPOS system, look closely at the app-based features it provides. These tools determine if a mobile POS platform will be successful for your business and have a positive impact on a retailer's daily operations.
A mobile solution can help a retail business take back sales floor space that cash registers had occupied. Since mobile interactions can happen anywhere, stores can also free space that had previously been allocated for returns or customer service counters.
Eliminate paper from the inventory count process forever. Mobile devices include a barcode scanner for quick and accurate counts, which update your inventory management system in real-time.
Flexible payment options are a key selling point for retailers. Cash transactions, credit/debit card transactions, gift card transactions, coupon redemption, and loyalty program points redemption are all supported by mobile POS systems. NFC-enabled mPOS devices support mobile wallets, like Apple Pay, Android Pay and Samsung Pay, and allow customers to pay with their smartphones.
Because it's so easy to scale, mobile technology in retail makes it easier to expand. There is a check-out station on every mobile device. In addition, as you open more locations, lower-cost mPOS devices allow you to grow more quickly while requiring less new IT infrastructure investment.
The number of cash registers you can have on hand to serve customers is limited without a mobile point of sale solution. To handle incoming traffic, mobile devices can be dispatched from other locations to the store, at an event or special sale, or when you experience a sudden spike in customer traffic.
All customer information is stored in a single database, so there’s no need for additional software licensing to use mobile devices. The manager simply returns the devices to their original locations after the event. For retailers seeking on-demand solutions that store managers can quickly implement, mobility is an attractive option.
Returns and exchanges slow you down. Mobile technology in retail helps speed returns and exchanges by allowing retailers to scale and avoid backs-ups at the sales registers.
Customers appreciate, and even demand, customized service. By using mobile technology in retail, your sales associates can assist customers in the aisle and complete sales at the point of decision, increasing conversion rates.
Sales staff become product experts with mPOS, providing customers with individualized guidance on product features, availability and delivery options. Your associates can use past purchase information, online browsing history, loyalty rewards totals, and other information to make relevant up-sell and cross-sell suggestions to customers.
BNG Point-of-Sale are POS solutions that improve your bottom line. With a full selection of POS systems for various businesses, you’ll find the right tool to grow your business with the personalized support you need. Connect with us to learn more.