The Internet of (Retail) Things: How mPOS Systems Make Buying Stuff High-Tech

mPOS Systems On The Rise

Modern society is increasingly connected — and mobile. Those realities have also carried over to how people buy things, specifically, mobile point-of-service (mPOS). These devices let merchants and service providers simplify making and processing payments by carrying out those duties in the places that are most convenient.

Most mPOS apps are compatible with popular brands of smartphones and tablets, and a company called SumUp offers one of those app options. In addition to syncing with a smartphone, the app works with a slender, extremely portable credit card machine that accepts all types of cards, including contactless, chip-embedded and magnetic strip varieties.

An mPOS system caters to entrepreneurs who are just getting started or otherwise don’t have steady cash flow. They can swiftly take payments on the go without investing in expensive standalone systems. However, it also works well for the many people who provide goods or services and want to become as accessible to customers as possible without creating hassles for themselves.

Implementing These Devices May Increase Tipping

The restaurant industry commonly uses payment devices to facilitate securing the necessary funds from customers. Bringing an mPOS device directly to a person’s table allows that individual to input a tip amount rather than having to leave cash for tipping purposes.

In the past, servers provided customers with their checks and then dashed off to help other diners. A server using an mPOS system, though, stands near the table to remain available to answer questions and retrieve the gadget after the customer inputs the pertinent details. Evidence suggests that because wait staff members stand near the table, the human presence makes tipping more likely to happen.

According to statistics, 41% of respondents in a survey about mPOS usage said that they’d definitely or probably be more likely to tip when the server stays close. An mPOS system could also encourage larger tips at places like coffee shops. Whether people realize it or not, it takes talent to make a specialty beverage correctly, but individuals who buy coffee sometimes only tip with the change they receive after paying.

Sometimes, the tipped amount may only be 25 cents. However, if coffee drinkers are more aware that their mPOS transactions are supervised, they may feel more generous.

Well-Built mPOS Devices Could Encourage Consumer Trust

Breaches have made major headlines recently and have caused some people to balk at using their credit cards for payments. As a result, leading providers of mPOS technology know it’s crucial to build systems that ensure data security. As a case in point, SumUp processes payments in accordance with the highest security standards and is the only mPOS provider to design its own card terminals.

The uncertainty some people have about making credit card purchases may explain why 92% of retail purchases still happen in physical stores. If retailers emphasize that they are using an extremely secure and fully certified payment system such as SumUp, people could feel better about using their credit cards to pay for their items.

mPOS Devices Give Service Providers and Merchants More Flexibility

Many taxi drivers were early adopters of mPOS technology. They didn’t like to carry lots of cash to give customers change, and they knew the people riding in their vehicles often preferred to pay with credit cards. More recently, service providers operating bike taxis have started accepting mobile payments, too.

People in the food delivery sector often accept mobile payments as well. Having the choice to do so increases safety for those who bring cuisines to hungry households. They don’t have to manage money, so they can just focus on providing hot, fresh items.

It’s not hard to see why cashless payments work so well in the transportation and food service industry. However, almost all Service Providers or merchants who appreciate not being tied down could benefit from the mobile payment option.

For example, an in-demand salon operator might go to a wedding expo and give clients hair extensions to help them envision how they could look on their wedding day. Clients could then just use their cards to pay instead of digging in their wallets to find the correct amount of cash.

mPOS companies including SumUp have obviously adapted to a pressing need and have made handling payments easier for businesses everywhere.

Article sponsorship support by SumUp

By Kayla Matthews

The Top 20 Cybersecurity Startups To Watch In 2021

The Top 20 Cybersecurity Startups To Watch In 2021

20 Cybersecurity Startups Cybersecurity, privacy and security startups have raised $1.9 billion in three months this year, on pace to reach $7.6 billion or more in 2021, over four times more than was raised throughout ...
Trading view

Notable Stock Screeners for 2021

Stock Screeners By this point, you probably already heard about everything that happened with GameStop (GME) stocks. GameStop is the largest video game retailer with 5,000 stores around the U.S. Due to the pandemic, the ...
Virtana

Episode 8: Managing Cloud Strategy During the Chaos of 2020, Plus an Outlook for 2021

An Interview with Kash Shaikh, CEO of Virtana Companies are wrestling with the idea of moving to the cloud, staying on-prem or finding a hybrid solution. Kash Shaikh, the new CEO of Virtana, looks at ...
Sebastian Grady

Digital Transformation – Updated Metrics for the Cloud Era

Cloud Era Metrics Undertaking digital transformation means also transforming how IT success is defined, including metrics that address business in the cloud.  With up to 90% of budgets spent keeping the lights on, cost is ...
Martin Mendelsohn

New Executive Roles in the Post-Corona Era

Executive Roles in the Post-Corona Era As the global economy shows early signs of reviving from past months of rigormortis, forward-looking companies will be busy preparing for the next pandemic. What this means for technology ...
Gary Bernstein

Mapping Crime Though Big Data – Leading Sources

Online Crime Maps Online crime maps is a set of tools used by law enforcement agencies to map and make an analysis of crimes and incidents in order to find possible patterns in them. Online ...