How to Choose the Right mPOS System for your Business?

According to its definition, an mPOS (deciphered as a mobile point of sale) terminal or reader is a device for reading data from a customer's ... ╳ Payneteasy-paymentplatformprovider AboutUs AboutUs Blog Solutions Solutions Regardlessofyourbusinesstypeorindustry,Payneteasycanprovideyouwiththepaymentsolutionthatwillfityourspecificneeds. WhiteLabelPaymentGateway button_arrow Tailormadeprojects button_arrow FintegratePaymentCashierSystem button_arrow mPOS&POSSDK button_arrow BusinessType PSPs Banks E-commerce Fintech ContactUs Support Documentation ContactUs ic_panel_magnifer HowtoChoosetheRightmPOSSystemforyourBusiness? BoazGam CEO 14.07.2021 4min HowdoesthemPOSsystemfunction? HowtoFindoutifthisSystemisSuitableformyBusiness? HowtoPicktheRightmPOSsystem? ProsandConsofthemPOSSystem WhatdoweOffer? Toacceptpaymentbycard,oneneedsaterminal.StationaryPOSterminalsarefoundinanystore,buttherearealsoportablereadersthatareconnectedtoasmartphoneortablet.So,wededicatethisarticletomPOSmeaningandrelatedissues. MobilereadersaresometimesconfusedwithportablePOSterminalsthatrunfromthebatteryandareconnectedtothenetworkviathemodem.Butthesearedifferentdeviceswithvariousprinciplesofwork. HowdoesthemPOSsystemfunction? Accordingtoitsdefinition,anmPOS(decipheredasamobilepointofsale)terminalorreaderisadeviceforreadingdatafromacustomer’scardconnectedtoasmartphoneortablet. ToconnectanmPOSsystem,onemustenterintoanagreementwithacompanyorabankthatprovidesmobileacquiringservices.Then,tobuythereaderitself.Also,auserwillneedasmartphoneortabletwithaccesstotheInternetandaspecialapplication. AmPOSdevicecanbeconnectedthroughtheAUXconnectorforheadphonesorBluetooth.Itdependsontheterminal. Installspecialsoftwareonthegadgetandconnectthereader.Intheapplication,passtheregistrationprocedureandspecifytheaccountdatatowhichmoneywillcome. Apaymentprocesslookslikethis: RunthemPOSapponyoursmartphoneortablet,makingsurethattheterminalisconnected; Entertheamountofpayment; Applyorinsertacustomer’scardintothereader; ThentheapplicationwillaskforaPINofthecustomer’scardorhis/hersignature.Oneneedstosignonthescreenofthesmartphone; Askthecustomerabouthis/herphonenumberore-mailtosendanelectroniccheck. Whenpaying,mobilePOSterminalsformaslipcheckandsenditviaSMSoronthecustomer’se-mail. “Theslipcheckisadocumentconfirmingthatthebankpaymenthasbeenprocessedsuccessfully.” HowtoFindoutifthisSystemisSuitableformyBusiness? MPOSsolutionsareperfectforbusinessesthathaveunclearlydefinedpaymentlocationandfrequentlydealwithaportablepointofsale,suchas: Deliveryservices,whereacouriertakespaymentsinanapartmentoraclient’soffice; Traveltrade(fairs,festivals,conferences); Exitservices:tutoring,massage,cleaning; Taxi. HowtoPicktheRightmPOSsystem? ThechoiceofthemPOSreaderdependsonanumberoffactors,soitisimpossibletojustbuyanylikeddevice.Certaintechnicalrequirementsareimposedontheterminalsinceitwillbeincludedinthepaymentsystem.Paymentismadeinseveralstages,andnotonlytheterminalisinvolvedinit,butalsoasmartphoneortablet,aswellasacquirerintermediaries,suchas paymentgatewaysofaggregators.Thisimposesanumberofrestrictions,sothechoiceofthemPOSsystemterminalsdependsonthechoiceofapaymentservice. Fromatechnicalpointofviewtherearealsosomefeaturesthatwillbeusefultoknowbeforebuying: Inwireddevices,thesecuritylevelishigher.However,theremaybeaproblemwiththesearchforasuitableconnectorsincemobileandtabletdevicescanhaveportsofdifferenttypes. Wirelessconnectionworkswithalldevices,thereisnoneedtosearchforasuitableport.ThisisasafeconnectionthatisadditionallyprotectedbyPINs.ThemobilePOSterminalandagadgetcanbeatadistanceofeachother.However,deviceswithcontactlessconnectionsneedtobechargedseparately. Also,notethatmPOSconsistsnotonlyofhardware,i.e.theterminalitself,butalsoofsoftware.Whenchoosingacompanythroughwhichtheterminalisconnected,oneshouldpickittakingintoaccountthesoftwarethatitoffers. ProsandConsofthemPOSSystem Advantagesinclude: LowpricecomparedtostandardPOSterminals. Compactness.Itisconvenienttomovewithitbothwithinonetradingpointandthroughoutthecity. Negativesidesare: Customersarenotaccustomedthattopayinastoreorcafe,theyareaskedtoprovideaphonenumberore-mailaddress;somemayrefuse; YouneedaconstantstableconnectiontotheInternet. WhatdoweOffer? Thecompanyoffersawiderangeofservicesconnectedto mPOSreaders.IfyouturntoPayneteasy,we’llbegladto: ProvideUser-friendlySDKformPOSterminalsintegration. SetupthemPOSmanagementsystem. ProvideMultiplemPOSacquiringbankssupport. HelppickthebestflexiblemobilePOSsolutionsforyourbusiness. Chooseanappropriateequipment. Adviseyouonallissues,providetechnicalsupportafterlaunching,andmanageyourmPOSmachinenetwork. Guidetheprocessandwatchforsystemsecurity. Payneteasywillhelparrangethepaymentprocessconvenientlyandeffectively,aswellasprovideclientswithflexible,customizable,andinnovativesolutionsfortheirbusinesses.Everycustomerwillgettheproductthatfullysatisfieshis/herneedsandservesasthebestoptionforabusiness. Author: BoazGam F.A.Q. WhatisthedifferencebetweenPOSandmPOSsystems? APOSterminalisstationary,thatis,itisinstalledataspecificpointofsaleandnotmovable.AnmPOSreaderisaportablewirelessterminalversion.Itisconvenienttotakeitwithyou;thedevicecanbeusedanywhereinthecity. ForwhatbusinessisasuitablemPOSsystem? MPOSterminalsaresuitableforbusinessesthatcannothaveonesetpointofsale.Thesearesuchservicesastaxi,tutoring,cleaning,traveltrade,courierservices,andsoon. DoyouprovideservicesforsettingupmPOSsystems? Yes,therangeofprovidedservicesencompassesalltheissuesrelatedtomPOSsystems.Readerconfiguringisoneofthem. Articlesrelatedto"HowtoChoosetheRightmPOSSystemforyourBusiness?" ByBoazGam 18.06.2018 Creativepaymentsolutionsthroughcustomization PSPsandfinancialinstitutionsoftenhaveneedsthatareuniquetotheirbusiness.Theseneedsthatgounaddressedcanturnintopain-points,andrevenuereduction. ByBoazGam 20.07.2018 Technologicalflexibility:abank’sdreamcometrue Withoutdoubt,bankshavecometotherealizationthatatechnology-drivenstrategyisessentialforoperationalefficiency.Mostoftheindustry’sgiantswentdigitallongagointermsoftheuserexperiencewithappsandportals.That’scrucialfortheirUX–intermsofhowtheircustomersseethem. ByBoazGam 01.03.2019 IntroducingtheFintegrateCashierSystem,byPayneteasy Platformprovidersandlargemerchantsexperienceongoingchallengeswithpayments.TheyoftenhavemultiplePSPs,thataredifficulttomanagewhichleadstoreducedacceptancerate,wastedtimeandresources,aswellaserrorsincharges. ByBoazGam 01.07.2021 HowtoChooseaMerchantAccountServiceProvider? Choosingamerchantaccountprovidertohandleelectroniccheckorcreditcardpaymentsisoneofthemostimportantdecisionsyouwillmakeasabusinessowner.Pickthewrongserviceprovider,andyou’llpayhighratesandfees,gettingpoorqualityofserviceandapaymentsolutionthatdoesn’tmeetyourbusinessneeds.Choosingtherightsuppliermeansgainingacompetitiveadvantage. Doyouhaveaquestion? Sendyourquestiontotheauthor. Asktheauthor button_arrow Commentaries 5 DustinAustin Greatarticle!WhereIcanfindsimilararticles? 07/20/21 +3 -2 BoazGam Thanks!Readsimilararticlesinourblog! 07/20/21 +3 -2 DustinAustin Thanksalot! 07/20/21 +3 -2 BarbaraTerner Fineexplanation,butthereisalotofuncoveredstuff! 07/21/21 0 0 BoazGam Followourblog!Weareuncoveringsecretthings! 07/21/21 +3 0 Commentariesareclosed Empoweryourbusinesswithstrongtechnologytoday! Learnhow button_arrow ╳ Tellusaboutyourprojectandwe'llcontactyouinaday. 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