Mobile POS technology boosts operational efficiency
December 04, 2013
Tools that make it easier to accept mobile credit card payments allow small and medium-sized businesses to eliminate many of the complications and overhead costs associated with traditional transaction processing methods.
The growth of smartphone and tablet technology has created unique opportunities for firms to expand the point of sale to better reflect changing consumer and management behaviors. Flexibility has become a valuable asset in today's fast-paced and multi-channel marketplace. According to a report released by the business information service Timetric, titled "2020 Foresight Report: Mobile Point of Sale Technology," enterprise owners around the nation have uncovered multiple benefits from investing in advanced credit card processing devices. Many of these tools were initially intended for a highly specific category of small businesses. However, in recent years, companies in a variety of other industries have adopted mobile payments as well.
For example, the online publication Restaurant News said many food service businesses have invested heavily in the ability to accept credit card payments at the table. Wait staff usually have to process all transactions at a specific kiosk in the restaurant, which can result in wasted time in the long run. However, new POS technology makes it easier for these employees to maximize sales and devote their work shifts to other important responsibilities.
The Timetric report said efficiency is one of the most important elements of any successful business strategy. The owners of small and medium-sized enterprises can streamline many back office financial processes by mobilizing the point of sale and increasing the flexibility of operations. Both managers and consumers place a high value on convenience. As a result, businesses that can accept payments on the go will likely gain a competitive edge in the future.