October 9, 2020
Processing payments may seem like an insignificant part of the entire customer experience, but think of the payment experience as restaurant toilets: if the toilets in a restaurant are relatively clean, diners don’t really notice and mostly take it for granted. But if the toilets are very dirty and disgusting, they may never return. Like toilets, customers expect a smooth and clean payment experience; a terrible one means a customer may never return.
A mobile Point of Sale (mPOS) will help you create the smoothest payment experience possible for your customers.
mPOS basically means a portable POS system that works on a smartphone or tablet and may connect to an external card reader. The mPOS can accept most types of payments and is usually more straightforward and user-friendly than traditional POS systems.
Since mPOS are small and nimble, they are also great for those businesses that are constantly on the move or have little space, such as food trucks, stallholders, tradesmen and house decorators. mPOS solutions are also a great way to accept payments from a safe distance, making it easier to follow government guidelines.
Some mPOS systems will require a card reader device and others, like Pomelo Pay, just require an app and a mobile device. If you’re using a card reader, it will be a wireless device and you’ll need to be connected to the internet to accept payments. If you use an app that accepts QR codes, you can print your QR code anywhere in your shop and you won’t need a wifi connection to take a payment (although your customer will).
mPOS are very straightforward to use: you’ll first need to download an app, create an account and depending on the software you use, you may have the option to purchase a card reader. If you’re using a mobile card reader, customers can still use chip and pin or swipe their card, and some may accept cards with a signature. You can also choose to email a copy of the receipt to the customer.
With an mPOS like Pomelo Pay, you just need to download our app and you’ll be able to take card payments immediately. The app will display a unique QR code which your customers can then scan with their smartphone. A page will pop up on their phone and they will have the option to fill in their card details and pay. The payment is instant and the credit card details aren’t stored on any device.
We honestly don’t think there is a more convenient way to pay! By using an mPOS, you just need a mobile device to start accepting payments. You won’t need to commit to a one year contract, pay huge monthly fees or purchase a ton of (expensive) hardware. If you already have the hardware, you can still pick an mPOS machine that integrates with it.
Since the system works on mobile devices, you can take payments on the go instead of waiting to get home to send the invoice. The user-friendly interface means that it’s quick to understand, and you won’t need to spend hours training your staff or experimenting with various payment methods.
Over 39% of customers leave a store due to waiting too long in line. Modern shoppers are getting more and more impatient and complain if they need to wait too long.
With an mPOS device, the payment process is a lot faster. Not only does the software process more quickly, but you can place your card readers or QR codes in several places in the store, so customers don’t have to wait in just one queue to pay. You can also detach your phone or card reader and walk around the store completing payments. With your mPOS device, you can also accept all types of payments: Apple Pay, debit cards, credit cards and any contactless device. Since nearly everyone has a smartphone, QR codes make this process even faster.
By speeding up the payment process, you get to catch more customers at the point of decision rather than the point of sale - they have less time to overthink it and don’t spend half their shopping time in a queue. Once you build a reputation for processing sales quickly, customers won’t think twice about coming to your shop during peak shopping times. You can take this to another level by printing your QR codes at various locations in your shop so customers can pay whenever they are ready. As we can see, faster payment processing means more sales.
mPOS systems don’t require as many devices or tools as traditional POS systems. With mPOS you won’t need a payment terminal, custom software or bulky card machines. Most mobile payment systems just charge a monthly subscription. With Pomelo Pay, for example, we only charge 1.49% per transaction.
You’ll also save money in other ways: less paperwork, simpler set up, and less money and time spent training staff.
With an mPOS device, you can accept payments while maintaining a safe distance from your customers. You can either put your card reader on a separate table and input the payment amount from your own phone or tablet, or you can simply print out QR codes and display them in your shop for your customers to use. This makes it easier to follow government guidelines without making it too confusing.
Not only are they safer to use, but they are also secure. Contrary to popular belief, contactless payments like Apple Pay and QR codes are actually more secure than debit card payments or cash. That’s because every single transaction is tokenised (each one has a unique transaction ID) and all customer details are encrypted. Pomelo Pay as a company is regulated by the FCA and is PCI compliant.
Many mPOS software and devices offer analytics and insights about your customers. If you integrate your mPOS with an online ordering system, for example, you’ll be able to see which customers are repeat purchasers and offer them loyalty rewards and points to increase engagement. You can also ask for feedback after their purchase without getting them to fill out a survey.
A mobile payments system allows you to offer a much more personalised and complete experience to your customers. This will help increase engagement, and therefore loyalty. And we all know what loyal customers mean: increased sales and a healthy business!
Customers now expect payments to be frictionless and smooth. With mPOS systems, you can make your payment experience so intuitive that customers may not even notice they’re paying - allowing you to focus more on engagement and brand loyalty (no dirty toilets!). With Pomelo Pay, all you need to start is an app and a smartphone!
Tiziania, owner of mobile food business Heartmelts, doubled her orders with Pomelo Pay. Read more to find out how!
Vincent Choi, CEO of Pomelo Pay joins the FinTech Magazine Podcast to talk about contactless payments, the importance of QR codes and the impact of the pandemic and Brexit for the fintech industry.