Mobile point-of-sale (mPOS) is a dedicated wireless device that performs the functions of an electronic point of sale terminal. mPOS systems allow service and sales associates to conduct financial transactions anywhere, improving the customer experience.
In recent years, the adoption of mPOS technology has been growing at unprecedented rates and shows no signs of slowing down. *According to a report by Transparency Market Research, the mPOS market is expected to reach over $38 billion by 2024.
The technology has the capabilities to open new opportunities for many retailers. The biggest demand for mPOS is coming from small and medium-sized merchants that have found the technology to be an important tool in helping them run their stores more effectively. While mPOS isn’t going to replace the traditional POS counter for most retailers, it can help increase sales and heighten customer service for almost every type of business.
Retailers should think of mPOS as more than just mobile check out. If your mPOS system has access to shopper and inventory information, it can help sales associates engage with customers at the time of decision.