Sponsored by Total Merchant Services
By Rieva Lesonsky
Should your small business upgrade to a mobile point-of-sale system? Installation of mobile and tablet-based point-of-sale systems (mPOS) is projected to grow to 17.4 million in the U.S. and Canada by 2019, a compound annual growth rate of over 20 percent. But should your business “join the club”? To make the right decision, you need to weigh the costs against the benefits. Here are some factors to consider.
- You can accept new forms of payment. When you choose a mobile POS solution like those from Total Merchant Services, you’re ready for any way customers want to pay—including EMV chip cards, traditional magnetic-stripe payment cards and even contactless NFC payment options like Samsung Pay and Apple Pay.
- You gain greater flexibility. Whether you’re selling products at a trade show or street fair, taking orders in your restaurant or accepting payments at your retail store, being able to take payments on the go gives your business the flexibility you need to capture more sales. Total Merchant Services’ payment processing tools include wireless credit card readers and its card swipe device, which lets you take card payments on your smartphone.
- You can bridge the gap between virtual and physical stores. Do you have both a brick-and-mortar and an e-commerce store? Web-based payment solutions like Groovv POS let you accept customer payments both in person, so payment is quick and easy for customers no matter where they buy from you. You can sell products online through a hosted payment page connected to your website, set up recurring billing and process payments securely and automatically, or integrate payments online from your website shopping cart with Groovv Online Payments.
- You’ll power up your marketing. The right mPOS system does more than accept payments; it also has marketing tools built in, like Groovv POS. The system includes a loyalty program that lets you sign customers up right at checkout, plus geo-fencing technology so you can send customers smartphone offers whenever they’re near your
- You can better manage inventory. Choose an mPOS tool that includes inventory management software, like Groovv mPOS and you’ll always have the products customers want in stock. Customize inventory with categories and modifiers, track sales, and get alerts when inventory is running low.
- You get business intelligence. Detailed business intelligence makes it easier to run and grow your business. Whether you have one location or several, Groovv POS reporting software lets you track time, manage back office operations and see which products or services are the most profitable.
What’s the tradeoff for all these benefits? Here are some costs to consider when deciding on an mPOS:
- Cost of transitioning to the new system. Setting up a new POS can be time-consuming, and downtime can cost you money. With Groovv POS, however, you get help setting up the system, including free inventory loading and free, ongoing support to make sure you get the most from the product.
- Cost of educating employees. Training staff to use a new POS system can mean downtime. But a touchscreen mPOS system like Groovv POS is so intuitive to use, it won’t take your staff much time to get up to speed.
- Cost of hardware. An mPOS system can cost several hundred to several thousand dollars—but qualified businesses can get the Groovv mPOS system for free. Just open a new payment processing account with Total Merchant Services or switch from another provider, and you’ll get all the processing equipment you need, including mobile credit card readers, tablet, cash drawer, receipt printer, stand, EMV/NFC payment device and inventory management, marketing and reporting software.
The Right Choice
Don’t let concerns about costs keep you from investing in or upgrading your payment processing solution to an mPOS. With a solution like Groovv mPOS from Total Merchant Services, you can start using the latest mobile, EMV and NFC payment technologies with no upfront cost.
For more information on Total Merchant Services’ product family and/or to see if you qualify for free placement of payment processing equipment, call (888) 610-1025.