Report: Mobile Point-of-Sale (mPOS) Solutions
In today’s fast-paced business environment, staying ahead of the competition is essential for any organization. One way companies can gain a competitive advantage is by offering mobile point-of-sale (mPOS) solutions. According to a recent report by Verifone, failing to implement mPOS technology can cost businesses more than they realize.
Verifone’s report highlights several key points that illustrate the importance of mPOS solutions. First, offering mobile payment options can increase revenue. The report notes that businesses that offer mPOS solutions see a 30% increase in average transaction value. This is because mPOS technology allows businesses to accept payments from customers who might not have otherwise been able to make a purchase, such as those who do not carry cash or prefer to use mobile payment apps.
Second, mPOS technology can improve customer satisfaction. The report found that businesses that offer mobile payment options experience a 27% increase in customer satisfaction. This is because mPOS technology makes it easier for customers to complete transactions quickly and securely. It also eliminates the need for customers to stand in long lines or carry cash, which can be inconvenient and time-consuming.
Third, mPOS technology can reduce operational costs. The report notes that businesses that offer mobile payment options can reduce payment processing costs by up to 50%. This is because mPOS technology allows businesses to process payments quickly and securely, without the need for expensive payment processing equipment or software.
Despite these benefits, many businesses have been slow to adopt mPOS technology. Verifone’s report found that 60% of small businesses do not currently offer mobile payment options. This means that these businesses are missing out on the revenue, customer satisfaction, and cost-saving benefits that mPOS technology can provide.
The bottom line is clear: failing to offer mobile payment options can cost businesses more than they realize. By implementing mPOS technology, businesses can increase revenue, improve customer satisfaction, and reduce operational costs. As competition in the marketplace continues to intensify, businesses that fail to adopt mPOS technology risk falling behind their competitors. The time to invest in mPOS technology is now.