White Label mPOS Solutions 2020

 

Retailers are increasingly turning Mobile Point of Sale (mPOS) devices to secure payment because of the convenience, cost effectiveness and flexibility they offer. In fact, the mPOS market is reportedly growing faster than the traditional POS industry and, according to some estimates, could comprise some 25% of the overall market within the next three years.

mPOS devices that either connected to mobile devices by wifi, including smartphones and tablets, that smaller retailers and other businesses that want to take advantage of the portable nature of these payment devices are eagerly embracing.

Retailers can use their mPOS devices to process credit and debit card transactions, and, increasingly contactless, near field communication (NFC) and digital wallets are being accommodated  as a methods of payment. mPOS payment providers have also extended their functionalities into invoicing, inventory management and loyalty programmes.

What are the benefits of mPOS payment devices?

mPOS devices offer portability, which means the retailer can take the payment device to the consumers rather than expecting them to queue at a pay-out counter. As such, transactions are much faster and more versatile. For instance, retailers that participate in exhibitions can approach potential buyers while they are browsing and take advantage of their willingness to spend in the moment.

mPOS as a payment mechanism is also far more cost-effective than establishing traditional POS infrastructure. It frees up valuable retail space because you don’t need a dedicated counter for payments and the average price of an mPOS device is decreasing and thus becoming more affordable for even small retailers that are starting out.

A wider range of payment options are offered by mPOS devices and there is scope for greater innovation, including biometrics,  which will make the purchasing process even more seamless and convenient.

These devices also offer robust security because transactions are encrypted and not stored on the phone and they simplify compliance with data and payment regulatory standards because the mPOS service provider takes care of that and benefits from the economies of scale as an industry provider with many customers.

R Pay, secured online payment solution helps your businesses grow and have your business in the palm of your hands. R Pay provides features like hassle- free sign up, load and send money, withdraw cash, pay merchants, buy tickets, instant notification, limited liability etc.

Know More: https://www.roamsofttech.com/Digital-Payment-Solution-E-Wallet