Mobile POS systems are being used by more small businesses.
Mobile POS systems taking over, one small business at a time
November 19, 2012
The mobile payments revolution might already be taking place, even if it's not exactly how industry insiders expected. Rather than near field communication-based (NFC) technology that allows consumers to pay remotely by swiping chip-embedded smartphones or devices past credit card terminals, wireless POS systems are being snapped up by businesses.
Mobile credit card machines seeing more action
Early developer Square recently announced that it has already processed $10 billion in transactions per year, and is still signing on new vendors, according to Reuters. In fact, the company that started out selling credit card-swiping devices to be used by merchants at farmers markets recently announced a deal with Starbucks, which means 7,000 coffee shops throughout the United States are set to begin accepting mobile payments via the Square application.
"Our path is to have every single business in the U.S. use Square," said Keith Rabois, chief operating officer at Square. "It won't happen tomorrow, but it will happen."
The company may not be there yet, but it is certainly on its way, given that food trucks, street vendors, retail stores and taxi services are all now looking to offer credit card payments.
Startups like New York-based ice cream truck Coolhaus have selected mobile credit card processing systems that allow them to accept the payment forms that are most convenient to customers and also track important sales metrics, according to QR Code Press. The organic treats vendor now has trucks in Los Angeles, Austin, Miami, and Dallas, as well as New York.
Remote POS systems suit small business needs
For some small businesses, the mobile payments revolution is coming at exactly the right moment, according to Reuters. Noah Dan, owner of Washington, D.C.-based Pitango Gelato, said the new options have proven to be the right solution for his five-location company, which didn't require the robust POS systems found in corporate chains but still needed credit card processing capabilities.
"I was always thinking, 'We have so much efficiency in business but why does point-of-sale have to be so painfully stupid?'" Dan said, as quoted by the source.
Dan selected a system that included loyalty program functions, as well as a design that could be tailored to his company's needs. Some mobile payment systems can help small businesses with a variety of capabilities, from setting schedules and tracking sales performances to determining which times of the day require additional employee coverage.