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How to Choose the Right mPOS System for your Business?

Boaz Gam

Boaz Gam

CEO

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14.07.2021
4 min
How does the mPOS system function? How to Find out if this System is Suitable for my Business? How to Pick the Right mPOS system?
Pros and Cons of the mPOS System What do we Offer?

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.

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 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:

  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 bank payment has been processed successfully.”

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

MPOS 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 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.

Pros and Cons of the mPOS System

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 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.

What do we Offer?

The company offers a wide range of services connected to mPOS readers. If you turn to Payneteasy, we’ll be glad to:

  • 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 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.

F.A.Q.

What is the difference between POS and mPOS systems?

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.

For what business is a suitable mPOS system?

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.

Do you provide services for setting up mPOS systems?

Yes, the range of provided services encompasses all the issues related to mPOS systems. Reader configuring is one of them.

Commentaries 5

Dustin Austin

Great article! Where I can find similar articles?

-2

Boaz Gam

Thanks! Read similar articles in our blog!

-2

Dustin Austin

Thanks a lot!

-2

Barbara Terner

Fine explanation, but there is a lot of uncovered stuff!

0

Boaz Gam

Follow our blog! We are uncovering secret things!

0

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