Modern POS systems are full of extra features to help manage inventory, create detailed reports, and more. Making your sales terminals mobile will grant your salespeople a degree of freedom they’ve never known, as well as help cut down on lines. Here’s the business owner’s guide to mobile payment processing.
Mobile? As In…?
You’re probably still working with static registers, aren’t you? No problem! The purpose of this article is to introduce you to the wonderful world of mobile payment processing. With modern POS software, you’ll be processing payments via a mobile device; whether it be an iPad or some other Android tablet.
This gives your sales team the ability to walk the sales floor and process payments on the spot. Not only that, but a mobile POS system will contain all of the information your employees or the customers need on any products in the store…right at their fingertips. What makes the best POS software for mobile payment? Keep reading to learn more.
What Payment Methods Can I Accept?
Forget the old days of only processing cash and credit or debit card transactions. With modern POS systems, you’ll be able to accept a wider variety of payment methods, meaning you’ll gain access to a customer base you wouldn’t have appealed to before.
Some POS systems allow you to customize your terminal to accept new payment methods as well, so even if you don’t currently accept a current method, you can enter it into your software and begin accepting immediately.
Make no mistake, the ability to accept various payment methods is crucial to a retail store. The way we pay for goods and services is always evolving, with new payment methods on the market pretty much every year at this point.
You’ll want to keep your business modernized by updating your accepted payment methods. Customers will appreciate the extra flexibility, and you’ll keep yourself with current trends and, as we mentioned, attract customers you may not have appealed to before.
Your Inventory System is About to Get an Upgrade
Tired of manually tracking inventory or dealing with otherwise useless inventory software? Your POS is here to help. With real-time inventory tracking tools, you’ll always be in the know of how much inventory you have on hand and when you need to order more.
You’ll also be able to generate detailed sales reports to help you plan for the busy season. You don’t want to order too much stock, or you’ll end up with dead stock sitting on your shelves after the season is over. With a POS system, you’ll be able to plan better and therefore save yourself some money.
Inventory makes up a large portion of your business’s expenses, but without it, you have nothing to sell. A poorly managed inventory, however, can quickly become a detriment and cost you thousands if it gets out of hand.
Let’s be honest, manually counting inventory is not only miserable for whoever is doing the counts, but it’s often inaccurate. Humans make mistakes, it’s that simple. One distraction, and suddenly your count goes from 132 to 136, and just like that, you’ve got four missing items in your inventory list.
Bad counts can be avoided by using your POS system to help manage your inventory. With more accurate counts from order to final sales mean fewer recounts (and fewer labor dollars spent to perform them). It also means you’ll have an accurate stock number to show your customers should they request multiples of the same item.
Customer Profiles Mean Better Marketing
How do you effectively reach your customers with ad campaigns? You get to know them, of course! Creating customer profiles in your POS system gives you access to personal information and most importantly, purchasing habits. With detailed sales records of what your customers are buying, you’ll be able to better understand their preferences and therefore create customized ad campaigns.
While blanket ad campaigns are certainly effective to some degree, a truly personalized marketing effort based on what the targeted customer actually purchases is more likely to generate a response; as well as a follow up on the call to action.
The more effective your marketing campaigns are, the higher your sales will be. You’ll make customers feel like you really know them with customized promotions, giving them the “at-home” feeling many consumers feel when shopping at their favorite stores.
Your Competition Probably Already has a Mobile POS
With all of the benefits to a mobile POS we’ve mentioned so far, it would seem like a necessity for the modern business, and it certainly is. Your competition may already have one of these systems, which means you’re already falling behind in the market.
For instance, if you only accept cash and credit cards, but the competition accepts all payment methods, customers may turn away from your store in favor of the versatility the competition has to offer.
Keeping yourself ahead of the competition will help bring about new business opportunities and gain your business a reputation of quality and dependability…something customers can always appreciate!
By now, we hope you understand the advantages a mobile POS can offer your business. From organization to better marketing efforts to a more efficient inventory system, the possibilities are endless. Don’t let yourself fall behind, try POS software for mobile payment today!