With businesses and industries growing rapidly every day, new features and methods promise better ways to do business. As a small businessperson, you may be wanting to look at the right innovation that technology has to offer.
Simple and easy-to-understand retail solutions can ensure your business transactions go smoothly and without hassle. Hence, having the right point of sale (POS) solution is important to your retail business.
Let’s get to know the difference between two important POS systems in the industry today—mPOS and ePOS—and how they can work for you.
What is ePOS?
An electronic point of sale (ePOS) system is a computerised system that records retail sales, takes payments, monitors stock and generates reports in an offline store. Generally, an ePOS system consists of two elements—hardware and software or applications. This means an ePOS package will include:
- A desktop or touchscreen computer
- Barcode scanner
- Cash drawer
- Receipt printer
- Payment card machine
- Necessary POS software customised for your business to run the operation
It allows you to manage your business and provides you with a point of customer service. An ePOS system enables you to execute payments, manage your inventory and keep your business records. But the issue is that these standard POS terminals do not offer much flexibility.
For a small business, a traditional POS involves an ePOS machine that can be large to manage, takes up a lot of space, and can be expensive to buy and maintain. Plus, you will need to sign up with a payment processor that can become even more costly.
A new option that is pocket-friendly, easy to understand and maintain, and cost-effective in the long run is the option of mobile point-of-sale.
What is mPOS?
Mobile point of sale (mPOS) is a mobile payment device that you can use in place of an ePOS. It serves the traditional ePOS system‘s function, but you only need your smartphone or tablet that operates as a cash register.
As a small business store, you can benefit from using an mPOS system by taking your payments wherever you go.
An mPOS system can integrate with third-party applications to help you run your retail online business with ease.
And not just for online businesses, an mPOS system is also ideal for offline businesses. Your retail store can have an mPOS that can allow you to take payments from one place to another.
Besides, you do not need to spend large sums of money on unnecessary hardware and software on your POS system as your smartphone or tablet can function as an mPOS machine. Let us look at some more benefits that mobile point of sale systems can offer you.
- It makes transactions easy.
- Provides better customer experience and flexibility.
- Offers a relaxed shopping experience to your customers.
- Provides paperless receipts and streamlined payment options.
- Allows small businesses to save money.
- It is simple and intuitive to use.
- It makes real-time stock management and inventory easy to monitor.
- Allows businesses to check stocks at different locations and refill them whenever necessary.
- Offers improved security with encrypted transactions.
- Provides ongoing support and customer care services.
- Saves space without the need for bulky hardware.
- Reduces instances of fraud.
- It cuts down the risks of dealing with cash.
- Protects business owners from wastage.
- Offers time-saving advantages.
- Removes the need to re-enter customer orders.
- It saves money and boosts your store’s bottom line.
How does mPOS work?
In an mPOS system, the POS mobile application is downloaded on your smartphone or tablet. You will need a wi-fi connection to use the internet and run this application and authorise payments and transactions. With these two elements, you can now allow sales to take place from almost anywhere.
Your smartphone or tablet can function as a cash register to carry out the transactions no matter where you are.
All you need is your mobile device, and with the right mPOS system, you can benefit from fast and secure transactions to help your retail store.
How to decide the right type of POS system for your business
There are many benefits that an mPOS system can offer you. A traditional ePOS can be impractical in today’s environment as it is bulky and costly.
With mPOS, you receive the same services that a traditional POS may offer plus advantages like mobility and cost-efficiency. Mobile POS is a forward-looking solution that can adapt to your business environment.
To find the right mPOS system for your shop or store, contact our advisors today. You will discover how Zadinga integrates an mPOS system that can work exceptionally well for your business.
Having an mPOS device and the right software is important for the smooth running of your business. Try our mPOS options to make payment collection easier through cutting-edge technology and innovation.