Boosting Per-Merchant Revenue with mPOS

grocery-retailer-tabletToday’s small but powerful mobile point of sale (POS) solutions are a win-win for both resellers and retailers alike. For retailers, the low cost of tablet and smartphone hardware offers a compelling alternative to traditional small merchant POS systems.

But this should dissuade resellers because the low cost appeal can also lead to additional revenue via packaged add-on peripherals that can help build out a solution that matches a particular retailer’s needs.

The Beauty of the Tablet

Tablets leverage mass-market, standards-based technology to keep prices low. And it is because of its popularity, that the technology can be updated frequently (and easily) with new features and capabilities, as well as support for new peripherals and value-added services. When considering moving to a tablet POS solution, merchants can typically opt for an upgraded tablet at a relatively low cost and still retain the existing peripherals for which they’ve invested hard-earned capital.

To be fair, to truly replace a traditional POS solution requires more than just purchasing a tablet and some POS software. In fact, this web site lists a number of potential POS components that can be added to an iPad-based mPOS solution, including:
• stands and mounts
• card readers
• barcode scanners
• receipt printers
• and cash drawers

And this doesn’t even address the software side of the POS.

The big benefit of reselling standards-based hardware is that generally, there are multiple options for peripheral components at varying price points that meet the budget needs of any merchant.

When the tablet and POS software are paired with peripheral devices such as cash drawers, scanners and printers, a merchant can enjoy a complete POS system that is less costly and more simple to operate than traditional proprietary POS solutions.

What about the POS Software?

On the flip side, these mPOS systems run a variety of non-payment applications that provide merchants with business management solutions such as appointment scheduling, inventory management, sales tracking and marketing. The more robust systems integrate with traditional POS card acceptance devices and back-office software, as well.

Any business, regardless of size or industry, can now enjoy the convenience and opportunity of accepting secure payments anywhere, along with a full suite of business tools that enhances operations and improve the customer experience.

Smaller merchants can start simply and grow the functionality of their system as their business grows.
Larger SMBs may be eager to take advantage of consolidated rollup from multiple devices–even in different stores–and sophisticated tools formerly available only to large retailers, such as a dashboard view of sales for the day, month and year, enabling merchants to stay on top of business at all times.

Are you Prepared for EMV?

Today’s mPOS sale is an excellent time to open a dialogue with merchants about their needs to address the looming EMV liability shift. New data out from MasterCard says that by the end of 2015 (right after the deadline shift), there will be more than 575M chip-based payment cards on the market.

I love chip and pinWe know from speaking with customers that for many SMB merchants, EMV is not even on their radar right now. But when the EMV liability shift does occur in October 2015, it’s just a matter of time before the cost of fraud lands at the retailer’s doorstep, and customers who are newly educated about fraud and security will begin to turn away from older mag-stripe only systems in favor of merchants offering more secure EMV-capable payment systems.

Well before the EMV liability shift deadline, resellers should be prepared to provide EMV-ready card acceptance devices that can be easily added to a retailer’s mPOS system, without disruption or great cost to the merchant.

When you add it all up, it’s a great deal for merchant and reseller.

Comments

Leave a Reply

Connect with:

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>