As a business owner, you are totally responsible for making the right decisions on everything that has to do with your business. One of the most challenging things for a mobile business owner has to be processing sales transactions. With a number of Point of Sales (POS) systems options available, finding the right one for you can be a daunting task.
This can be especially challenging if your business is mobile and you don’t have the luxury of a brick and mortar store. So, short of only accepting cash for all transactions, what are you supposed to do when you have customers that only can pay with a credit card. The answer is, of course, a mobile point of sales (MPOS) system like SumUp.
Mobile Point Of Sales System
Today’s advancements in technology have made it extremely helpful for those who do their business on the go. Unlike a traditional business that has a cash register and terminal for doing transactions, the mobile business person has to be able to have a way to take their customers money for their purchases.
In the beginning, there were mobile card readers that you could attach to a smartphone and swipe a credit card and complete a transaction via an app. Today, this would only solve part of the problem with the addition of newer technologies being used with credit cards. These technologies include NFC (Near Field Communication) and EMV chips (smart chip) that are embedded into the credit card to increase the security of a banking transaction.
The Mobile Point of Sales system is comprised of two major components; a card reader and an online transaction processing service. The card reader component has gone through a number of different changes over the years from a simple magnetic strip reader to the much more sophisticated devices that are capable of reading the smart chips that were developed by the big credit card processors (Europay, Mastercard and VISA) and Near Field Communication services like EasyPay and Apple Pay.
The second part of the system is the transaction processing service that handles the money collection and reporting of each individual transaction to your bank. By having a 3rd-party company handling the financial side of the transaction, you are free to interact with your customers and not have required a cumbersome cash-only way of doing business. With so many options these days of companies that offer this type of online Point of Sales processing services, you want to be sure to do your homework in order to find one that works for you.
At the end of the day, only you truly know your business and what your needs are, you need to do your due diligence and find which of the many options work for your business. Thanks to technology and companies like SumUp, there are plenty of options available to help you and your business succeed. Your challenge is to know what your needs are for your business in the way of credit card processing and to match it with the best technology options that are.