How to Choose the Right mPOS System for your Business?

To accept card payments, a business 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.

How does the mPOS system function?

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 credit card connected to a smartphone or tablet.

To connect an mPOS system for business purposes, one must enter into an agreement with a company or a bank that provides mobile acquiring services. Then, to buy the card reader itself. Also, a user will need a smartphone or tablet with access to the Internet and a special application to accept payments.

A mobile point of sale 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 card reader. In the application, pass the registration procedure and specify the account data to which money will come.

A process of accepting payments looks like this:

1. Run the mPOS app on your smartphone or tablet, making sure that the terminal is connected;
2. Enter the amount of payment;
3. Apply or insert a customer’s card into the reader;
4. Then the application will ask for a PIN of the customer’s card or his/her signature. One needs to sign on the screen of the smartphone;
5. Ask the customer about his/her phone number or e-mail to send an electronic check.

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 credit card payment has been processed successfully.”

How to Find out if this System is Suitable for my Business?

Mobile point of sale solutions are perfect for businesses that have unclearly defined payment location and frequently deal with a portable point of sale, such as:

• Delivery services, where a courier takes payments in an apartment or a client’s office;
• Travel trade (fairs, festivals, conferences);
• Exit services: tutoring, massage, cleaning;
• Taxi.

How to Pick the Right mPOS system?

The choice of the mobile point of sale 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. Transactions are conducted in several stages, and not only the card 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 for business owners to know before buying a terminal for accepting payments:

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 for an mPOS to accept payments, it needs not only hardware, i.e. the terminal itself, but also software. When choosing a company through which the card terminal is connected, one should pick it taking into account the software that it offers.

For instance, secure software for taking payments should be PCI-compliant and allow you to process encrypted payments. Another factor you should take into account is its simplicity of use. One of the signs of great software is that it’s intuitive and easy to navigate.

Keep in mind that some mobile point of sale providers charge not only processing fees for the payments but also additional one-time and recurring charges.

Pros and Cons of the mPOS System

Mobile point of sale advantages include:

• Low price compared to standard POS terminals.
• Compactness. It is convenient to move with it both within one trading point and throughout the city.

Negative sides of using a mobile point of sale to accept payments are:

• Customers are not accustomed that to pay in a store or cafe, they are asked to provide a phone number or e-mail address; some may refuse;
• You need a constant stable connection to the Internet for successful transactions.

What do we Offer?

The company offers a wide range of services and software solutions connected to mobile point of sale readers. If you turn to Payneteasy, we’ll be glad to improve the way you process payments by:

• Provide User-friendly SDK for mPOS terminals integration.
• Set up the mPOS management system.
• Provide Multiple mPOS acquiring banks support.
• Help pick the best flexible mobile POS solutions for your business.
• Choose an appropriate equipment.
• Advise you on all issues, provide technical support after launching, and manage your mPOS machine network.
• Guide the process and watch for system security.

Payneteasy will help arrange the credit card payment process conveniently and effectively to ensure a smooth flow of transactions.

We also provide clients with flexible, customizable, and innovative software for their businesses. Every customer will get the product that fully satisfies their needs and serves as the best option for a business’s frictionless processing of payments.