Pros and Cons of Small Business Mobile Point of Sale Systems

Pros and Cons of Small Business Mobile Point of Sale

Mobile points of sale systems, along with mobile credit card reader are becoming increasingly popular these days. It is known to have a positive outcome for large businesses, but does it have the same effect on small businesses? Let’s find out.

Advantages

  1. Easier for customers to pay

The biggest advantage of a mobile point of sale system is that the customer will not have to stand in line till their turn comes to make their payment. The sales person can easily swipe the credit card on the spot. This time saving option is appreciated by customers.

  1. Sell more products

A few years back flight attendants would only accept money for drinks and food purchases. However, now they can simply make payments by simply swiping their credit card. Due to this simple procedure, flights can sell more food and beverages easily. A research also showed that when stores employed mobile POS systems, their sales increased.

  1. Staying connected with customers

With the help of mobile point of sale systems, a sales person can stay close to the customer from the time they arrive till the time they make their payment. This way the customer and sales person can build a rapport and enhance customer support and relationship.

  1. Minimize fees and expenses

Traditional points of sale systems that are connected to a computer are quite expensive. They cost around $1500 or even more and are charged a separate fee by credit card companies. On the other hand, mobile point of sale systems is comparatively cheaper. Due to their cheap pricing and easy to use quality, they are used by food truck vendors and solo entrepreneurs etc.

Cons

  1. Security concerns

There is a possibility that customers may not trust your mobile POS system. Thieves usually target small businesses as they lack cyber security. Therefore, it is important that while choosing your mobile point of sale system, you must check its security policies and procedures.

  1. Reliable internet connection

Without a reliable internet connection at all times, businesses may have a problem making the purchases with a mobile POS system. If the internet connection is slow or stops working, you will not be able to make the purchase which can be a huge problem to your business.

  1. You may not get your money right away

Unlike the traditional point of sale system, mobile POS may take a longer time to receive your payments. Due to fraud concerns your account could be shut down or your funds could be frozen leading to major issues.