Since the inception of the internet and accelerated digitisation, contactless payment systems have revolutionised the digital payment industry. Many processes that required manual steps are now automated with less human interference, and productivity has improved exponentially. 

The availability of internet connectivity at almost any corner of the world enables businesses to better manage customers. More and more shoppers are looking for retail stores with portable POS devices.  

Unlike a traditional POS system that was heavy and had a fixed monitor with a touch screen, a portable POS device consists of a tablet or a mobile phone to take payments. It is used as a mobile cash register and POS terminal to process sales transactions. Also, it offers features such as inventory management, sales analysis, employee management. 

Recently, another feature has been added to portable POS devices. You can offer customers the buy now pay later option that allows customers to avail of a loan on EMI using their credit or debit cards. 

Advantages of mobile POS machine  

There are several advantages that a portable POS machine can offer to your business beyond just offering cashless payments. Here are the seven key benefits of an mPOS terminal:

• Insured increase in sales

When there is the availability of cashless payments at stores, be it a retail store, photography, or car service store, it is likely that customers will indulge in impulse buying, which will boost sales. With POS credit card processing options available at the stores, people are prone to stay longer and enjoy hassle-free shopping. 

The best part about a portable POS machine is that customers don’t have to stand in long queues to make purchase payments. Therefore, the shopping experience for consumers is seamless and hassle-free. 

• Improved customer service 

A cashless payment system is an effective way to improve customer service by providing quicker checkouts and value-added services like the buy now pay later option, Equated Monthly Instalments (EMI), loyalty solutions, analytics. These services assist businesses to build customer loyalty. 

A mobile POS device can help your retail business in many ways by eliminating long queues application processes and offering customer-centric services, ensuring customer retention and new customer acquisition. 

• Helps formulate a specific marketing strategy

Every transaction and movement which is conducted electronically, has a footprint. A portable POS device also tracks the buying pattern of consumers. Upon having such knowledge, merchants can easily target specific segments by offering rewards. Hence, improving customer stickiness and improving sales figures. 

As the current business environment is getting competitive every day, merchants must shift to portable POS systems and progressively manage the business operations. 

• Reduced cost of cash management

A portable POS device is pocket-friendly and can go anywhere with you. The cost involved to buy a mobile POS machine is lower than the traditional POS system. You can either purchase a mPOS outright or opt for affordable rental plans.

A cashless payment system also eliminates the chances of cash mishandling like counterfeits, pilferages. Also, there is a risk involved in running multiple security checks of personnel handling cash. Mobile solutions offer complete transparency in pricing and reduced maintenance costs. 

• Safe and secure accounting

Another benefit of having a portable POS machine at your store is the easy and efficient accounting transactions. When you accept cashless payments, your business’s revenue is protected, and any probability of fraud is eliminated. Electronic transactions significantly reduce the cost of physically transporting cash along with mitigating associated security risks.

A POS credit card processing machine proficiently records transactions and saves money, time, human labour used in sales accounting. Also, the taxes that need to be paid by your business is easily calculated without any error. 

• Ensured transaction efficiency and accuracy

Due to a portable POS machine’s mobility and flexibility features, the purchase processes are conducted efficiently. The device can be taken anywhere to accept payments by the customers. As compared to the traditional POS debit card EMI processing system, it is quicker and efficient. 

 The transactions are recorded digitally, and it enables data to be automatically transmitted to book-keeping systems and statistics. 

Conclusion

Portable POS machines are revolutionising the way merchants are managing cashless payments, inventory, and sales. The best part is that it is easy and affordable to have a mobile device that is POS-enabled. Businesses can greatly benefit by improving sales, revenues, and customer satisfaction.