mPOS fits two types of retailers, the first one is the retailer who is UnPOS’d, they don’t have a POS because it has been too expensive or their business needs something simple to use and simple to manage.
These merchants want a way to run sales, process payments, get basic inventory reports, keep customer records, provide price management via discounts and coupons on the fly and be low cost. Typically this is a merchant doing less than 200,000 a year in sales, and their main challenges are how to get more customers and manage their inventory cycles.
They need a simple solution that helps them grow, they are not interested in any long sales cycles especially those that require them to invest hundreds if not thousands of dollars. They need an easy point of entry and a solution that allows them to add more features as they need them.
Typically they have ignored POS because their price point is zero, or as close to it as possible. Increase their sales and grow their revenue and they will talk about spending more.
They know POS, they understand POS, they may even want POS. They are not willing to invest in POS just yet.
The second merchant is a larger size merchant, they have a standard cashwrap POS, but what they are looking for is a tool that allows them to interact with their customers at a higher (relevant) level, resulting in their customers getting more engaged in the brand and provide sales associates with more visibility into inventory and customer information,which will ultimately deliver a more interactive more efficient customer check out experience.
To be effective for a merchant mPOS has to be many things. It has to be low cost, it has to be portable, it has to be resourceful and it has to be interactive, and it cannot be the same old POS.