But retailers aren’t the only businesses finding a place for mPOS. Restaurants, hotels, and healthcare practitioners are putting tablets and other mobile devices in the hands of customers to expedite orders, registration and checkout, and payments. Professionals like attorneys, chiropractors, and accountants can easily accept credit card payments and track customer behavior.
Because so many business models can enjoy the benefits of mPOS, you’ll find plenty of new opportunities to expand your client base. Here’s what you need to know:
The pool of potential clients keeps growing
If you’ve been in business as a VAR for a while, your client base may be limited to just a few types of merchants, namely retailers. But as you see what’s possible with mPOS, you’ll realize how this technology can make a difference for many business owners.
Healthcare organizations—large and small—are using mPOS to manage electronic health records, track inventory, register patients, and accept card payments.
Restaurants are putting mPOS devices on every table, encouraging customers to place multiple orders for drinks and appetizers and giving them the freedom to pay without flagging down a server.
Hotels are handling peak check-in and check-out periods with mPOS and are equipping waiters and servers with mobile devices to speed up food and drink orders across the premises.
Live-event venues sell more food, drinks, and souvenirs with mPOS. Concert-goers and sports fans can easily pay with a card, increasing the average spend. Lines are shorter, improving customer satisfaction.
mPOS and cloud-based services go well together
For mobile solutions, the software needed to run the system and the data generated by the application have to go somewhere. For many business owners, that place is the cloud.
Accessing software and data in the cloud reduces the need for a dedicated IT staff and maintains a higher level of security for the point-of-sale (POS) solution. Cloud-based software can be more secure and problem-free than the alternative. That’s due to automatic updates—including security updates—and regular bug fixes.
mPOS offers recurring revenue for VARs
mPOS is part of the “as a service” models popping up around you. Instead of a large up-front investment in POS hardware and software, merchants can get started with a fixed monthly payment. Software as a service and hardware as a service give business owners peace of mind when a terminal fails or when there’s a glitch in the software.
As a VAR, you can benefit from these arrangements. Compared to a one-time commission, recurring revenue from ongoing monthly subscriptions and payment processing solutions creates a predictable residual revenue stream.
Many factors are coming together to accelerate the adoption of mPOS across multiple industries. It’s a great time to add this component to your sales sheet and help your customers find the best-fit solution.