Make Money on the Go: Three Key Questions to Ask before Transitioning to a Mobile POS

One study projects that within the next two years, the industry of mobile payments will reach well over $1 trillion around the world, according to Heavy Reading Networks Insider. More than 60 percent of consumers in the US actually believe that making payments on mobile devices, such as smartphones and tablets, will inevitably replace traditional credit card payments that are made at terminals within stores, according to a Harris Interactive Poll.

With these types of figures and statistics, chances are that you should be eagerly searching for a way to transition your business to a mobile POS as soon as possible. However, there are a few key questions to ask yourself before you do to make sure that you’re making the right move at the right time.

What Does Your Sales Staff Think?
Keep in mind that it will primarily be your sales staff that will be using this technology when they are out in the field. Perhaps they have become so accustomed to using non-tech options, such as paper applications and pens that they are not willing to adapt to a new process. On the other hand, they could be excited about implementing mobile POS solutions into closing and finalizing their sales but simply have no idea where to begin. You need to find out what your sales staff thinks and how they feel about this type of transition before moving forward.

What Goals Will Be Reached by Doing So?
Whenever a major investment is made within your business, it should be a justifiable expense that will push you closer toward fulfilling your long-term goals. Which goals are you going to eventually achieve by investing in a mobile POS setup for your company? Will you be able to focus on decreasing delivery times while increasing order efficiency? Do you want to eventually phase out the overhead expenses associated with an office by having your staff members work remotely from the field and from their homes? You have to know exactly what you want to achieve by making this type of move for the long-term benefit of your company.

What Equipment Will You Need?
Think about the actual devices that you are going to use as well as the long-term cost associated with those devices. Can your business even afford to make this type of move and continue to financially keep it afloat over time? If you are the owner and sole employee of the company, this question might be much easier to answer affirmatively than if you had a team of 10, 20, or even more people that would need their own mobile POS device.
Deciding between tablets and smartphones is only the beginning of the list of decisions that have to be made, because you also need to think about the types of payment that will be accepted. For traditional credit cards, you will need to invest in a credit card reader that can scan them or simply use an online payment gateway that will allow you to enter the numbers manually into their systems. Although this may seem rather insignificant to think about once everything is up and running, it needs to be one of the first questions asked before you even involve yourself and your brand with the mobile POS market.

The Bottom Line
You know the figures and statistics associated with mobile payments and mobile devices and how many people will be using these devices to make those payments in the year to come. Just because it may seem to be the best move to make for your business right now does not mean that is the case. Take the time to honestly answer this questions before moving forward with any purchasing decisions.

By Jayvee Fernandez

Jayvee Fernandez is a tech enthusiast and sitting Techbology Editor for The Philippine STAR.

He is also an EAN certified SCUBA Diver and underwater photographer based in Metro Manila, Philippines. His photos and videos have appeared in various international and local publications including Random House Germany, Discovery Channel Canada, and CNN.

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