To accept payment by card, one needs a terminal. Stationary POS terminals are found in any store, but there are also portable readers that are connected to a smartphone or tablet. So, we dedicate this article to mPOS meaning and related issues.
Mobile readers are sometimes confused with portable POS terminals that run from the battery and are connected to the network via the modem. But these are different devices with various principles of work.
According to its definition, an mPOS (deciphered as a mobile point of sale) terminal or reader is a device for reading data from a customer’s card connected to a smartphone or tablet.
To connect an mPOS system, one must enter into an agreement with a company or a bank that provides mobile acquiring services. Then, to buy the reader itself. Also, a user will need a smartphone or tablet with access to the Internet and a special application.
A mPOS device can be connected through the AUX connector for headphones or Bluetooth. It depends on the terminal.
Install special software on the gadget and connect the reader. In the application, pass the registration procedure and specify the account data to which money will come.
A payment process looks like this:
When paying, mobile POS terminals form a slip check and send it via SMS or on the customer’s e-mail.
“The slip check is a document confirming that the bank payment has been processed successfully.”
MPOS solutions are perfect for businesses that have unclearly defined payment location and frequently deal with a portable point of sale, such as:
The choice of the mPOS reader depends on a number of factors, so it is impossible to just buy any liked device. Certain technical requirements are imposed on the terminal since it will be included in the payment system. Payment is made in several stages, and not only the terminal is involved in it, but also a smartphone or tablet, as well as acquirer intermediaries, such as payment gateways of aggregators. This imposes a number of restrictions, so the choice of the mPOS system terminals depends on the choice of a payment service.
From a technical point of view there are also some features that will be useful to know before buying:
In wired devices, the security level is higher. However, there may be a problem with the search for a suitable connector since mobile and tablet devices can have ports of different types.
Wireless connection works with all devices, there is no need to search for a suitable port. This is a safe connection that is additionally protected by PINs. The mobile POS terminal and a gadget can be at a distance of each other. However, devices with contactless connections need to be charged separately.
Also, note that mPOS consists not only of hardware, i.e. the terminal itself, but also of software. When choosing a company through which the terminal is connected, one should pick it taking into account the software that it offers.
Negative sides are:
The company offers a wide range of services connected to mPOS readers. If you turn to Payneteasy, we’ll be glad to:
Payneteasy will help arrange the payment process conveniently and effectively, as well as provide clients with flexible, customizable, and innovative solutions for their businesses. Every customer will get the product that fully satisfies his/her needs and serves as the best option for a business.
A POS terminal is stationary, that is, it is installed at a specific point of sale and not movable. An mPOS reader is a portable wireless terminal version. It is convenient to take it with you; the device can be used anywhere in the city.
MPOS terminals are suitable for businesses that cannot have one set point of sale. These are such services as taxi, tutoring, cleaning, travel trade, courier services, and so on.
Yes, the range of provided services encompasses all the issues related to mPOS systems. Reader configuring is one of them.
PSPs and financial institutions often have needs that are unique to their business. These needs that go unaddressed can turn into pain-points, and revenue reduction.
Without doubt, banks have come to the realization that a technology-driven strategy is essential for operational efficiency. Most of the industry’s giants went digital long ago in terms of the user experience with apps and portals. That’s crucial for their UX – in terms of how their customers see them.
Platform providers and large merchants experience ongoing challenges with payments. They often have multiple PSPs, that are difficult to manage which leads to reduced acceptance rate, wasted time and resources, as well as errors in charges.
Choosing a merchant account provider to handle electronic check or credit card payments is one of the most important decisions you will make as a business owner. Pick the wrong service provider, and you’ll pay high rates and fees, getting poor quality of service and a payment solution that doesn’t meet your business needs. Choosing the right supplier means gaining a competitive advantage.