Mobile point of sales system how to#

Magnetic secure transmission (MST): When a customer holds their phone against a POS terminal, the phone emits a signal that emulates a credit card's magstripe.

Near-field communication (NFC): Uses a smartphone's wallet feature to complete transactions with a nearby NFC device.

Europay, Mastercard, and Visa (EMV): The credit card is inserted into a card reader that accesses a chip embedded in the card instead of the magstripe.

Magnetic stripe reader (MSR): A handheld reader or hardware that plugs into a digital device reads a swiped credit card's magstripe.

These transactions include credit card magstripe reader payments and wireless transactions. Mobile point of sale systems allow you to accept payments via tablets, smartphones, and other handheld devices without being tied to a POS register in a single location. Overview: What is a mobile point of sale (mPOS) system?

Mobile point of sales system how to#

We'll go over mPOS basics and how to set up an mPOS system, so you can see the benefits for your small business.

Businesses must expand transaction opportunities beyond brick-and-mortar stores to stay competitive, and customers want to make purchases anytime and anywhere without having to look for an ATM to withdraw cash.Р”Р„ mobile point of sale (mPOS) system addresses both these issues. Now it's POS terminals in fixed locations that are behind the times. Since the advent of credit and debit cards and point of sale (POS) systems, though, cash and checks - like the 8-track tape player in my first car - are so last millennium. Even asking if checks were accepted earned you a sideway glance and a request to see some identification. I'm old enough to remember when business transactions were cash-only affairs.