When you start to sell a new product or service, you’ll probably want to start closing deals immediately. But you have a dizzying array of mobile point of sale (POS) applications and accessories to choose from.
Each of these systems requires you to invest a certain amount of time and funds for the initial setup. In an ideal world, you’d be able to choose a POS and stick with it: The system should be able to scale to your future needs.
But exactly how do you find the right mobile POS that’s tailored to your needs? You’ll need to look at several key factors, including total transaction fees, scalability, and upfront technology requirements.
Total transaction fees
Mobile POS services generally charge a small fee every time you run a transaction. Some companies will charge further monthly fees for using their additional software services, such as inventory management systems, customer relationship management systems (CRMs), cloud backups, and other databases.
These incremental charges can add up and take a huge bite out of your potential return on investment. Search for a mobile POS with explicit upfront fees, so they don’t bite into your profits.
Your company will benefit from a mobile POS system that comes with scalable merchant pricing. While a static percentage from each transaction might be affordable when you first open a retail store, it might not be cost-effective after your volume of transactions rises.
If you find yourself juggling a high volume of sales, then scalable pricing such as the Omni Commerce Bundle can dramatically reduce your transaction fees to a static charge of just a few cents, plus a small monthly fee. In the long run, these scalable bundles help retailers save if they start to achieve high-volume sales every month.
Most popular mobile POS systems operate on Apple’s iOS devices, such as the iPhone or the iPad. This makes it easy for you to convert existing hardware into a cash register.
However, you’ll want to examine the tech requirements before investing in a portable payment system, to make sure that it will be compatible with your existing technology. If you don’t already own the necessary hardware, you will need to budget for these devices.
Shifting to a mobile POS system brings a high degree of freedom. Your employees will have the flexibility to move around the retail environment so they can capture customer information and process transactions on the go.
Mobile POS solutions are rapidly changing the way everybody does business.