mPOS or mobile point of sale is a revolution in the payment industry where payment getaway coupled with mobile technology serves for instant payments anywhere and everywhere. Conventional card swipe machines first replaced the cash counters but they lacked the mobility and were great for on-prem purchases. These machines are POS hardware with built-in mechanisms for card swiping, barcode scanning and screens/keypads. They need to be connected to the power as well as wired/wireless internet.
But what happens when the payment has to be made remotely? The modern consumer cannot be limited to paying online via net banking since both businesses and consumers want instant gratification and the bulky card swiping machines cannot be moved around as needed. And this is where mPOS steps in.
Why mPOS
The mPOS machines are handy to carry around, they are essentially bespoke mobile devices with hardware functionality for swiping or scanning a debit/credit card. These devices are locked into a kiosk mode with payment applications running continuously. These devices are wireless, work on mobile data powered by a SIM card, are easy to move around and maintain.
Key benefits of mPOS:
Top reasons for adopting mPOS
Android-based mobile devices can be customized to serve as mPOS. Android phones, tablets, iPhones and iPads can also be easily deployed as mPOS.
Cashless transactions are on a rise globally. mPOS devices with card reading/swiping functionalities support the same.
No need to pay in cash or write a cheque. Instant payment gratification, within or outside of the purchase parameters.
Cheaper than traditional POS systems that have hardware and software coupled with cash drawers and wired connections.
mPOS for different industries: top use cases
Shopping and retail have evolved drastically over the last decade. As modern shoppers want to indulge in the purchase, they want more than just the product, they are looking for an elevated shopping experience. Shopping, in fact, has seen the turn of tables with the advent of eCommerce. More and more buyers are resorting to online shopping because of the convenience it drives in. As online shopping becomes a norm, retail stores are seeing a change in the footfall. Instead of competing with themselves- online shopping juxtaposed with in-store retail can be a win-win for the business as well as the consumers. And this is where strategically placed mPOS systems with inventory displays can help.
What does that mean? In simple terms, this means the retail stores can create a curated inventory within the store and for the buyers, they can complete the shopping experience by offering a mobile point of sale system. These mPOS systems double as an online shopping opportunity as well as a payment getaway where the customers can make an assisted purchase decision.
Thanks to online shopping, food delivery and on-demand home services, the modern workforce today comprises last-mile delivery executives. mPOS is the most preferred option for payment. In restaurants, mPOS devices help in instant bill payment on the table of service. These same devices can also double up for conducting patron surveys.
Top 5 industries using mPOS:
Top Challenges in using mPOS
If the mobile devices doubling as POS systems are unmonitored, the users can d
download apps, browse websites and perform operations that can lead to security threats. Since the devices hold sensitive payment information, this can be a serious security breach.
Since the mPOS systems are out in the field, tracking their location in real-time is a challenge. If the location services are turned off, the device can be moved anywhere without the information to the device admins.
The Android-based mPOS devices need to be updated to the latest version of OS as well as app versions to function at an optimal level.
How a Powerful MDM Can Drive Effective mPOS Management
By partnering with OEMs and ODMs, MDM can be integrated into the mPOS devices before they are shipped to the end-users. This will ensure that the devices are always attributed to the owners and are controlled by the administrators.
Region/geography/use-case wise device groups can be created and policies can be applied in bulk. Access control can be enforced with passcode policies and factory resets/ safe mode reboots can be prevented.
Devices can be locked to only one or multiple business-specific apps. Other app downloads and web browsing can be blocked.
For large enterprises wanting to push their private apps, silent app installation and versioning can be enabled.
If and when the devices run into errors, the device screens can be mirrored remotely and administrators can resolve device issues by pushing files, or conveying debugging instructions with the help of a secure communication app.
Location tracking can be enforced and real-time location can be collected. Geofences can be created and every time the device moves out of a geofence, an alert can be triggered to maintain device security.
To upkeep device performance, periodic security and compliance checks can be automated.
Has this piqued your curiosity? Explore this infographic on mPOS adoption to learn more about the facts and stats around global mPOS adoption.
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