According to a finances online survey, 59% of retailers revealed that implementing an omnichannel shopping experience is a key priority.
Implementing an omnichannel shopping experience is necessary to ensure that you can close sales and process all kinds of payments no matter where your customer (or staff) is — online or offline.
Processing payments and registering sales-related data are complex business processes. If you are a retail business owner, you know how important it is to process payments quickly and close sales transactions before your customers change their minds. Mobile point-of-sale (POS) systems help you do that while giving you access to performance analytics.
What is a POS system?
Whenever your customer pays you for your products or services, a point-of-sale (POS) transaction takes place. In the past, POS transactions took place manually, with the help of cash registers. With time, POS transactions went digital, and businesses started to use POS terminals to process credit and debit card payments. The software which processes these electronic and card payments is known as “POS software.”
POS terminals use POS software to manage transactions and store historical sales data on a connected device or in the cloud. A POS system consists of POS terminal devices and POS software that processes sales transactions.
Today, POS systems have evolved from their basic functionalities into core business tools that help businesses manage inventory, customize menus, adjust prices, report sales-related data, manage customers, and even implement loyalty programs. Moreover, the need for POS terminals is also slowly wearing out.
Thanks to the advanced POS software, your mobile devices can double up as POS terminals.
What is a mobile POS system?
A mobile POS (mPOS) system is any mobile device that processes sales transactions using POS software. In addition to processing payments and registering sales transactions, mPOS systems help you collect business data, track inventory, and ring customers up anywhere. Instead of investing in a POS terminal and then syncing all the data to the cloud, your mPOS does just that in real time. Your tablet or smartphone transforms into a supercharged checkout point.
Key Benefits of Using Mobile POS Systems
All mobile POS systems offer mobile checkout, enhanced customer service, privacy, and security of customer data (PCI compliance), In addition to:
An omnichannel shopping experience for your customers.
The first and foremost advantage of using a mobile POS is its ability to process payments anywhere, anytime. For example, the Priority Retail Management System helps process online and in-store payments. You can store customer preferences and customize or automate their POS processes. For instance, whether they shop online or in-store, you can save their frequently used cards and make it easy for them by not having to type out the card details again.
Priority’s cloud-based Head Office management console ensures you can apply an omnichannel shopping experience across branched store chains.
Offline payments processing
In certain areas, mobile data connections can be unstable, and even broadband may sometimes fail. Power cutouts may occur, making it difficult to process payments. Advanced mPOS systems ensure you can remain fully operational in connected and disconnected modes.
Priority Retail’s unified commerce platform is perfect for pop-up stores and remote sales outlets where connecting to the internet, or a power source is challenging.
Integration with other essential modules
Your mPOS contains valuable data that can help you seamlessly manage your inventory and orders. Based on purchasing trends and historical sales data, you can use predictive analytics to restock or clear your merchandise by offering discounts. Some of the most important tools to integrate your mPOS include your eCommerce platform, business process management (BPM), and inventory management.
Priority ERP has a built-in mPOS solution that seamlessly integrates with its other modules, such as BPM, inventory management, and loyalty management. In addition, it seamlessly stores all mPOS-related data in the Head Office, which gives you real-time visibility and control of your retail operations.
Customer relationships Enhancement
Mobile POS frees up your resources and time to focus on building lasting customer relationships. You no longer have to worry about processing payments or getting the customers’ names right — the mPOS already does that. Instead, you can use the data and insight from your mPOS to customize loyalty programs and rewards to keep your customers coming back.
Priority’s retail ERP solution also helps you to protect customer data, whether collected as part of the POS transaction or stored within the customer loyalty program (CLM).
Mobile devices compatibility
mPOS is a mobile app that can be installed on both iOS and Android devices, including smartphones, tablets, and dedicated POS devices. No matter what device your employees use, they can efficiently process payments and register sales transactions.
mPOS helps your staff process payments online and offline, even when they are out in the field. In other words, mPOS takes bring-your-own-device (BYOD) policies to the next level.
Factors to Consider When Choosing a Mobile POS System
Ensure your mPOS is compatible with iOS and Android smartphones and tablets. In addition, it should also be compatible with traditional POS devices and terminals.
Number of terminals the mPOS supports
Your mPOS should support unlimited terminals, stores, brands, and locations.
Staff permissions and user authentication
You should be able to set up unlimited user logins and grant access permissions to your staff.
Your mPOS should be able to process payments and register sales, even when disconnected or offline.
Integrated inventory management
Ensure that your POS data integrates with your inventory management module to make order fulfillment seamless.
Customizability and scalability
One size fits none. Enquire if your mPOS can be customized to suit your unique business needs and processes. In addition, confirm that you can add or remove features and modules and ensure your mPOS is scalable in both directions.
Data security and privacy
Ensure the mPOS is PCI DSS compliant and takes security and data privacy seriously.
Training and customer support
Lastly, ensure that your mPOS vendor offers training during implementation and continued tech support after sales.
Get a holistic retail POS system that supports mobile devices.
mPOS is an essential tool to process payments and register sales online and offline. It allows you to process sales regardless of where your customers or staff are. It helps efficiently process payments in pop-up stores, online shops (through integration with eCommerce websites), and brick-and-mortar locations while reducing wait time and ensuring cross-channel order fulfillment.
Priority’s Retail Management System is a one-stop software solution for all retail-oriented business processes. It is compatible with iOS and Android devices, and you can set it up on other POS terminals.
Priority’s retail solution takes a holistic approach toward processing payments, registering sales data, managing customer relationships, inventory and stock management, and warehouse management.
In short, no matter how large or small your retail business is, Priority Retail ERP is all you’ll ever need. To learn more, contact us today.