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mPOS - MOBILE POINT OF SALE SYSTEMS FOR SMALL BUSINESSES

Thursday, 29 Sep, 2022

Since the steady development of cashless payments, especially the card payments, a large number of small businesses have missed out on countless customers and a significant amount of revenue due to the lack of the Point Of Sale (POS) system. This happens because setting up the system is too expensive, complicated, and requires a stable internet connection.

Aware of the problem, mPOS was born as opening up a new method of accepting cashless payments that is faster, simpler, more convenient, and even safer. With mPOS, small and medium businesses now have the advantage of flexibility without having to sacrifice their security.

So what is mPOS? Let’s find it out with PayCEC in the article below!

What is mPOS?

Definition of mPOS

Just like how it is called, mobile point of sale systems for small businesses, or mPOS, are POS system s that are especially designed for mobile devices. Which means you can get paid with a card reader together with your mobile devices. And that is it, no complicated and heavy facilities like a CPU, keyboards, desktop, etc. are required.

The mPOS helps businesses improve the shopping experience of their customers by providing them with a faster, easier, and more convenient way to pay for their goods.

An introduction to the mPOS system.

If the invention of the traditional POS system has changed the way customers pay and the way businesses get paid back in the 1990s, then this mPOS has taken that innovation to just another level of easy and convenient payment.

Smaller, cheaper, accessible to anyone at anywhere, the mPOS now is expected to replace the traditional POS system in the near future.

mPOS helps businesses get paid with JUST a card reader together with your mobile devices

mPOS helps businesses get paid with JUST a card reader together with your mobile devices

Benefits of mPOS

The mobile point of sale systems are systems that inherit the cashless-accepted payment feature of the traditional POS and are upgraded with many innovative features such as the portability, the convenience, the affordable price, the easy installation, and a friendlier interface. In other words, this new system can be considered as a better version of its former POS.

Portability

If the traditional POS system requires lots of devices such as computers, the CPUs, card readers, keyboards, printers, barcode scanners, cash register drawers, .v.v. Then mPOS only needs a mobile device with an mPOS app installed; a card reader, a barcode scanner, a card register, and a bill printer all in one little device.

And with that highly portable feature, an mPOS device can be taken with you anywhere you go, and anytime you are supposed to get paid.

The payment with mPOS can happen anywhere at any time now.

The payment with mPOS can happen anywhere at any time now.

Low cost

This is the most innovative benefit of mobile point of sale systems for small businesses that has ever been introduced. According to the Capterra’s research that was conducted in July 2020, almost 90% of respondents who are business owners agree or strongly agree that cost-effectiveness is the highlighted feature of mPOS.

Aiming at the low-cost startups and small businesses, mPOS was born with a more affordable price than its prior invention, the POS.

Cost-effectiveness is the most highlighted benefit of the mPOS.

Cost-effectiveness is the most highlighted benefit of the mPOS.

Particularly, an mPOS will cost you:

  • No upfront fee & no monthly fee

Normally, you will have to pay in advance an average of $700 - $1,000 for completely setting up the hardware of a traditional POS system. And another $100 a month for the software in order to bring it into use.

In contrast, the mPOS costs you no more than $50 for a full set of devices and applications. Moreover, the average cost for installing an mPOS device on the mPOS market is forecasted to decrease from $40 in 2018 to about $33 by 2023, which is great news that enables small businesses to approach this new technology.

  • No long-term contract

When purchasing a POS system, you are likely to either pay a monthly fee for the installation and the maintenance or you will need to sign a long-term contract that obligates you to pay all of those fees all at once.

An mPOS, with only a small device and an application on your smartphone, only costs you the fixed cost of those things.

  • No early termination fee

The early termination fee is the penalty charge that the businesses have to pay when they decide to end the contract by themself prior to what they have committed to in the contract.

As mentioned above, mobile point of sale terminals with no long-term contracts cost you no early termination fee.

*Disclaimer: The information in this section is collected and synthesis by the PayCEC team, and is not the official source of data. Only take this information for reference purposes.

Accepting any type of card payment

The way your mobile point of sale systems works are the same as the traditional POS, which is used for accepting card payments equipped with pin codes or chips. However, the mPOS also allows payments from bluetooth as well.

Inside an mPOS device is manufactured with the NFC chip that enables it to accept NFC payment, which allows customers to pay by not only their credit card with just a tap on the mPOS device, but also with their smartphone through NFC feature of Master Card/Visa, Google Wallet, Apple Pay, Samsung Pay, Android Pay, etc.

mPOS accepts any type of cashless payment - mobile apps payment

mPOS accepts any type of cashless payment - mobile apps payment

mPOS accepts any type of cashless payment - NFC payment

mPOS accepts any type of cashless payment - NFC payment

mPOS accepts any type of cashless payment - card payment

mPOS accepts any type of cashless payment - card payment.

Easy installation and less devices required

Unlike the traditional POS, mobile point of sale systems for small businesses require only a small smart device, the card reader and your smartphone with an mPOS application inside. You can simply install an mPOS system in literally any mobile device like smartphones and tablets without any further step involving other hardwares or terminal.

The installation process is kind of simpler and quicker compared to a normal POS system. All you have to do is just a few taps and swipes on the mobile device and you are done with the process.

mPOS with easy installation enables you to get paid right at your food truck

mPOS with easy installation enables you to get paid right at your food truck

mPOS with easy installation enables you to get paid right at your customers’ table.

mPOS with easy installation enables you to get paid right at your customers’ table.

A spacious automatic backup storage

If business owners have to store their payment data in the hardware of the POS system, the mPOS prefers the cloud software with a huge storage that makes it easier to backup and track your business’s growth daily.

mPOS mobile point of sale systems provide you a huge backup storage on the cloud.

mPOS mobile point of sale systems provide you a huge backup storage on the cloud.

The common type of mPOS system and service.

There are several types of mPOS systems such as tablet-based systems, smartphone-based systems, terminal-based systems, or POS kiosks. They execute the exact same type of process but are conducted on different devices.

Why do small businesses need mPOS?

The mobile point of sale systems turn your smartphone and tablet into a portable card payment accepting device, which enables you to get paid literally anywhere at any time.

Besides, the mobile point of sale machine depends on the internet connection on your mobile device, so you don’t need to ensure a stable connection everywhere you go anymore. As long as your smartphone is online, everything will be good to go for the mPOS.

Moreover, not only at a brick-and-mortar shop, this excellent innovation of the mPOS helps small business owners get paid on the spot at the customer's houses, at a construction site, at an outside concert, at an outdoor market, and especially, on your food truck.

Thanks to the standards of PCI-DSS compliance , mPOS helps increase security, encrypt payments, and protect your transactions. With mPOS, small and medium businesses now have the advantage of flexibility without sacrificing their security.

A portable mPOS with highly security features is all what small businesses need.

A portable mPOS with highly security features is all what small businesses need.

How does the mobile point of sale systems work?

How do mobile point of sale systems for small businesses work?

When a business owner signs up to an app, the provider sends the business owner a card reader that plugs into the mobile device's audio jack to process debit/credit cards. It could be an optional handheld docking station that allows mobile devices to read barcodes and print receipts.

The mPOS can function as a standalone device linked to a business bank account, or as part of a larger legacy POS system. Instead of the storage on the device, customer data when processing with mPOS is encrypted and stored in the cloud to protect cardholder data.

Typically, this is how an mPOS works in reality.

Submit request Step 1: Submit request

The store/shop/mall will log in to the mPOS system, then access the transaction list. The business owner will select the eligible transaction and submit the corresponding withdrawal request, then press on the verification code, the system will authenticate immediately and proceed to the next steps.

Process the request Step 2: Process the request

Immediately after receiving the request from the user, mPOS will process the request if it is confirmed as valid. In case the transaction is not valid, The mPOS device will:

  • Refuse to process the request.
  • Clearly notify the reason so that the user knows how to handle it
  • Suggest the requirements needed for the order to be approved

Receive payment Step 3: Receive payment

When the request has been approved, mPOS will receive the money. From here, the transaction will be completed.

The mPOS mobile point of sale systems for small businesses are especially designed for retailers and small businesses owners with the benefits of getting the retail transactions right on the spot, so the whole is amazingly simple, fast, and convenient with only 3 steps.

mPOS works on any type of mobile device can enable businesses to expand revenue.

mPOS works on any type of mobile device can enable businesses to expand revenue.

The future of the mobile point of sale systems.

A research conducted by Juniper Research informs that the transaction value of Mobile Points of Sale (mPOS) is forecasted to exceed $1.9 trillion by 2024, up from $850 billion in 2019. And the most contribution of that number will depend on the ability to adapt to new services coming from SMBs, including pop-up stores and street vendors, etc.

The website also has another research on POS & mPOS Terminals: Vendor Strategies, Innovation & Market Forecasts 2018-2023, stating that the average cost for installing an mPOS device on the mPOS market will decrease from $40 in 2018 to about $33 by 2023. This affordability feature, plus the simplicity and the convenience of the mPOS devices are expected to be the keys to make it more attractive to SMBs.

The transaction value of mPOS is forecasted to skyrocket in the near future.

The transaction value of mPOS is forecasted to skyrocket in the near future.

Payment gateway - The alternative payment solutions for mobile point of sale systems

A payment gateway is a complex piece of software that allows online retailers to accept debit or credit card payments from customers. The payment platform authorizes the card information and sends it to your bank for processing when a customer visits your website, enters their credit or debit card information and clicks "Submit".

In other words, a Payment Gateway is similar to a POS (Point-of-Sale) terminal, which is a physical credit and debit card reader. Both collect payment information before encryption and pass it on to the processing system for authorization. The main difference is that e-commerce businesses using payment platforms will not have direct access to consumers' financial information.

Among those most secure payment gateway in the world, PayCEC is a global payment gateway that not only allows customers to get paid but also withdraw money to their Business accounts in various currencies. PayCEC creates a secure payment ecosystem on mobile devices.

Payment gateway is a new ideal way for retailers to accept cashless payment from customers.

Payment gateway is a new ideal way for retailers to accept cashless payment from customers.

Conclusion

By bringing a new method with high portability, convenience, and flexibility to payment acceptance, the mPOS mobile point of sale system has helped a large number of businesses who have previously missed out on countless customers and a significant amount of revenue due to the lack of the Point Of Sale (POS) system, to reach out to more customers in the future

PayCEC - The payment gateway of the new generation

Read more:

About PayCEC

PayCEC was established to help merchants accept online payments more quickly and easily. In the new media era, our payment flow has evolved to work seamlessly and effectively across all platforms and devices.

PayCEC is a truly global payments platform that not only allows customers to get paid but also withdraws funds to their business accounts in various currencies. Customers across the world have chosen us as their favorite payment gateway for tech support business.

We have created an open and secure payments ecosystem that people and businesses choose to securely transact with each other online and on mobile devices.

PayCEC Team

Frequently Asked Questions

MPOS, or mobile POS, is a POS system that is designed to accept payment on mobile devices.

Compared to the traditional POS system, the mPOS is smaller, cheaper, simpler and faster to process payment, and can be fit in the user's pocket for them to get paid anywhere at any time.

mPOS solution is what people prefer to the mPOS as it brings the benefits that the traditional POS system cannot provide to users such as: the portability, the convenience, the simplicity, and the affordable price.

MPOS machine, or mobile POS, is a POS system that is designed to accept payment on mobile devices.

Compared to the traditional POS system, the mPOS is smaller, cheaper, simpler and faster to process payment, and can be fit in the user's pocket for them to get paid anywhere at any time.

MPOS payment is the payment process that is conducted by mPOS system, which is faster, cheaper, and simpler than traditional POS.

MPOS, or mobile POS, is simply a POS system that is designed to conduct cashless payment on mobile devices.

Compared to the traditional POS system, the mPOS is smaller, cheaper, simpler and faster to process payment, and can be fit in the user's pocket for them to get paid anywhere at any time.

mPOS system is the POS system that is especially designed for accepting cashless payment, including card payment on mobile devices.

Compared to the traditional POS system, the mPOS is smaller, cheaper, simpler and faster to process payment, and can be fit in the user's pocket for them to get paid anywhere at any time.

In terms of banking, mPOS system is similar to a payment gateway, which allows online retailers to accept debit or credit card payments from customers. The payment platform authorizes the card information and sends it to the bank for processing when a customer visits your website, enters their credit or debit card information and clicks "Submit".

If the traditional POS system requires lots of devices such as computers, the CPUs, card readers, keyboards, printers, barcode scanners, cash register drawers, .v.v. Then an mPOS only includes a mobile device with an mPOS app installed; a card reader, a barcode scanner, a card register, and a bill printer all in one little device.

And with that highly portable feature, a small mPOS device with a cheaper price can be taken with you anywhere you go, and anytime you are supposed to get paid.

POS, short for Point Of Sale or Point Of Purchase, is a place where the customer executes the payment for what they have purchased for the merchant. The POS transaction may be conducted in person or online, by cash or bank transfer.

An mPOS, or mobile Point Of Sale, is a POS system that is made to enable POS on mobile devices. Compared to the traditional POS system, the mPOS is smaller, cheaper, simpler and faster to process payment, and can be fit in the user's pocket for them to get paid anywhere at any time.

POS service refers to the service that occur at where a POS system take places which is enabling cash as well as several types of cashless payments

POS, short for Point Of Sale or Point Of Purchase, is a place where the customer executes the payment for what they have purchased for the merchant. The POS transaction may be conducted in person or online, by cash or bank transfer.

A research conducted by Juniper Research has informed that the transaction value of Mobile Points of Sale (mPOS) is forecasted to exceed $1.9 trillion by 2024, up from $850 billion in 2019. And the most contribution of that number will depend on the ability to adapt to new services coming from SMBs, including pop-up stores and street vendors, etc.

The website also has another research on POS & mPOS Terminals: Vendor Strategies, Innovation & Market Forecasts 2018-2023, stating that the average cost for installing an mPOS device will decrease from $40 in 2018 to about $33 by 2023. This affordability feature, plus the simplicity and the convenience of the mPOS devices are expected to be the keys to make it more attractive to SMBs.

As a payment acceptance system for mobile devices, mPOS plays an important role in attracting and keeping loyal customers for the business. It is because mPOS offers a more cost- effective, more affordable price of installation and execution, more convenient ways to get paid right on the spot features to business owners.

In addition, mPOS is also the trend nowadays since a research conducted by Juniper Research has informed that the transaction value of Mobile Points of Sale (mPOS) is forecasted to exceed $1.9 trillion by 2024, up from $850 billion in 2019. Smaller, cheaper, accessible to anyone at anywhere, the mPOS now is expected to replace the traditional POS system in the near future.

An mPOS system only includes a mobile device with an mPOS app installed; a card reader, a barcode scanner, a card register, and a bill printer all in one little device

If the traditional POS system requires lots of devices such as computers, the CPUs, card readers, keyboards, printers, barcode scanners, cash register drawers, .v.v. Then an mPOS only includes a mobile device with an mPOS app installed; a card reader, a barcode scanner, a card register, and a bill printer all in one little device.

Compared to the traditional POS system, the mPOS is smaller, cheaper, simpler and faster to process payment, and can be fit in the user's pocket for them to get paid anywhere at any time.

MPOS, or mobile POS, is a POS system that is designed to conduct cashless payment on mobile devices.

Compared to the traditional POS system, the mPOS is smaller, cheaper, simpler and faster to process payment, and can be fit in the user's pocket for them to get paid anywhere at any time.

When a business owner signs up to an app, the provider sends the business owner a card reader that plugs into the mobile device's audio jack to process debit/credit cards.The mPOS can function as a standalone device linked to a business bank account, or as part of a larger legacy POS system. Instead of the storage on the device, customer data when processing with mPOS is encrypted and stored in the cloud to protect cardholder data.

Typically, this is how an mPOS works in reality.

  • Step 1: Submit request

The store/shop/mall will log in to the mPOS system, then access the transaction list. The business owner will select the eligible transaction and submit the corresponding withdrawal request, then press on the verification code, the system will authenticate immediately and proceed to the next steps.

  • Step 2: Process the request

Immediately after receiving the request from the user, mPOS will process the request if it is confirmed as valid. In case the transaction is not valid, The mPOS device will:

  • Refuse to process the request.
  • Clearly notify the reason so that the user knows how to handle it
  • Suggest the requirements needed for the order to be approved
  • Step 3: Receive payment

When the request has been approved, mPOS will receive the money. From here, the transaction will be completed.

Disclaimer: This information, including the recommendations, is only general. It is an overview information for reference.

When a business owner signs up to an app, the provider sends the business owner a card reader that plugs into the mobile device's audio jack to process debit/credit cards. The mPOS machine can function as a standalone device linked to a business bank account, or as part of a larger legacy POS system. Instead of the storage on the device, customer data when processing with mPOS is encrypted and stored in the cloud to protect cardholder data.

Typically, this is how an mPOS machine works in reality.

  • Step 1: Submit request

The store/shop/mall will log in to the mPOS system, then access the transaction list. The business owner will select the eligible transaction and submit the corresponding withdrawal request, then press on the verification code, the system will authenticate immediately and proceed to the next steps.

  • Step 2: Process the request

Immediately after receiving the request from the user, mPOS will process the request if it is confirmed as valid. In case the transaction is not valid, The mPOS device will:

  • Refuse to process the request.
  • Clearly notify the reason so that the user knows how to handle it
  • Suggest the requirements needed for the order to be approved
  • Step 3: Receive payment

When the request has been approved, mPOS will receive the money. From here, the transaction will be completed.

Disclaimer: This information, including the recommendations, is only general. It is an overview information for reference.

mPOS is a POS system that is designed to conduct cashless payment on mobile devices. And SoftPOS, or Software POS is the application that is downloaded on the mobile devices in order to execute the mPOS.

“mPOS retail” refers to the way mPOS benefits the retail industry by enabling small businesses and retailers to accept the cashless payment from customers anywhere at any time.

Do you want to know more about the benefits of mPOS and how it differs from the traditional POS? Read here for your information.

mPOS shorts for mobile Point Of Sale, or mobile Point Of Purchase, which is a POS system that is designed to conduct cashless payment on mobile devices.

Compared to the traditional POS system, the mPOS is smaller, cheaper, simpler and faster to process payment, and can be fit in the user's pocket for them to get paid anywhere at any time.

mPOS, or mobile Point Of Sale, is a POS system that is designed to accept cashless payment on mobile devices like mobile phones and tablets.

For first-time used, these steps below show how you can register and start use the mPOS system:

  • Step 1: Purchase an mPOS card reader, from your bank, online or offline in branches, or from a range of online or high street retailers. Applications can often be approved within a day.
  • Step 2: Download the merchant payment app to your smartphone or tablet and you are now - ready to start accepting cards or any cashless payment.
  • Step 3: To accept the card payment, simply enter the amount of payment into the app on your mobile device, which is connected to the card reader - many models are available depending on your provider.

The customer then inserts their card inside the card reader, or taps the card against the card reader, or puts their smart devices with the NFC feature near the card reader in case of contactless payment, and if required, enter their PIN. If the signature is required, it can be entered on the smart device

The reader secures the data by encrypting it before sending it back to your smartphone or tablets and onto the bank for authorisation

And that’s it! Payment is completed.

Disclaimer: This information, including the recommendations, is only general. It is an overview information for reference.

mPOS testing is the process of testing of mobile Point Of Sale systems. mPOS is known as the cashless payment based on mobile solution that is especially designed for retailers and small businesses to get paid right on the spot from their customers.

The system is considered as a device that can enlarge the revenue of a business by enabling it to accept any type of cashless payment. Because of its mentioned benefits and the highly-technical feature, potential customers would want to test it before their actual purchase.

The process of testing the system can be divided into 2 sections: the application testing, and the enterprise testing. And each section will be divided into many other testing performances.

Merchant point-of-sale systems, or POS, are complicated machines/devices installed at the checkout spot of a shop, business in order for the business to accept payment from customers by credit card, smart devices, or any type of cashless payment.

The merchant point-of-sale systems are the most popular payment systems that are trusted by businesses all over the world because it enables them to accept any type of payment besides the cash at their checkout point, as well as help the customers to pay for their purchase without bringing along any cash.

In addition to POS, there’s a new system that is especially designed for small and medium businesses, that is mPOS (mobile Point Of Sale) system. The two biggest benefits of the mPOS system compared to the traditional POS are the portability and the cost-effectiveness.

In order to find out more about these two highlighted benefits of mPOS, let’s scroll up and read our article about this innovative mPOS system that we have made for you.

What is the point of sale credit card processing?

The point of sale credit card processing is the POS system that accepts any type of credit card payment.

On the other hand, this point of sale credit card processing phrase also refers to the processing in which the purchase is made and the credit card payment from the buyer is accepted at a point of sale system at the merchant. This whole process is technically very complicated and in order to make it easier for you to understand, we have already made an article that includes almost everything all about the mPOS for you above. Let’s scroll up to the head of this page to find out more about it..

What is a POS machine without charges?

There’s a POS machine without charges, and that is the Bharat Swipe, the system comes from BharatPe, a merchant focused QR code-based payments firm from India.

The representative of the company stated that besides 0% merchant discount rate or MDR, the machine won’t charge any sort of fee including rentals from merchants. And because of this new benefit, this free-charged POS system is currently trusted by about 1,000 merchants.

By launching this type of POS machine without charges, BharatPE was said to mirroring the same strategy to not to charge anything from their merchants in the POS business as it does with the QR code-based payment system. And by getting rid of all kinds of fees, it will bring a tough fight to the existing players in the market.

An mPOS payment gateway, or mobile point of sale payment gateway, is another term for the “mPOS terminal”, a little device in the physical store that business owners used to accept credit card payment from the customers.

Unlike the POS terminal, mPOS terminal is especially designed for mobile devices, and as a business owner, you can bring it along like a mini ATM in your pocket, in order to get paid anywhere and anytime.

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About us

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about us

We are honored to serve as your reliable business partner and financial service provider in the industry and other business-related services. With the help of our professional staff, to help merchants to achieve their goals for the development and expansion of the international business market.

Our payment flow has developed in the e-commerce world to perform seamlessly and effectively across all platforms and devices. We take pleasure in combining technology with customer service, to solve your concerns at the moment.

PayCEC is a fully worldwide payment network that not only allows merchants to be paid immediately and securely, but also allows them to withdraw money in multiple currencies to their company accounts.

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