In the United States, it’s becoming less common to pay with cash. Instead, customers are choosing to pay with credit or debit cards. Some even pay through a mobile point of sale system.
If you’re opening a business or are already a business owner, you may want to explore current restaurant industry trends. This is especially true when it comes to different payment methods.
One of the restaurant technology trends that you should consider looking into to a mobile point of sale system or mPOS system. This article covers what a mobile point of sale system is and how it benefits businesses in the restaurant industry.
What Is a Mobile Point of Sale System?
A mobile point of sale system is a mobile device that completes a customer’s transaction through a piece of software, such as an app. The mobile devices can be either a smartphone or a tablet. This device performs the same actions as a cash register.
Mobile POS systems involve POS hardware and software. Hardware includes the card reader that businesses use to allow customers to swipe their cards. The software is what allows businesses to process digital payments.
When you purchase an mPOS system, the provider may send you add-ons. These include a stand for your device, a card reader, or a receipt printer.
If you’re opening a restaurant or already own one, you’ll need a POS system. Existing POS systems include technology and different POS features that help drive sales while also improving customer retention.
However, what do you do if you’re opening a food truck business or an on-the-go restaurant? You invest in a mobile point of sale system.
An mPOS system allows restaurants to retain their customers and increase sales while using their own smartphones or tablets. This decreases upfront costs and allows businesses to take advantage of POS software.
How Does a Mobile Point of Sale System Work?
To get your mobile point of sale system up and running, you have to first pick your mobile POS software provider. Then, download the app and connect the card reader to your mobile device. This allows you to accept payments and manage eCommerce accounting processes.
The mPOS system relies on an internet or data connection in order to successfully process payments. Some systems have offline features where they can continue to accept payments without an internet connection.
Key Takeaway: A mobile point of sale system allows businesses, such as restaurants and bars, to accept and process payments on the go.
4 Benefits of an mPOS System
Restaurants prioritize greeting and serving their customers quickly and based on their specifications. This is true for a quick service restaurant, fine dining restaurants, and a Michelin star restaurant.
A mobile point of sale system allows restaurants to speed up their services and ensure that operations are running smoothly. All of this is possible while on the go.
Here are four benefits of investing in an mPOS system for your restaurant:
1. Ease of Use
Most restaurant mPOS systems are straightforward and easy to use. This makes it simple for your wait staff, bar staff, and servers to learn how to use it.
With an mPOS system, your restaurant employees can process transactions quickly, increase overall operational efficiency, and turn tables faster. These systems are referred to as at-table solutions because they allow customers to pay for their meals at their table using the device.
mPOS systems allow employees to focus on the order-taking process so that customers can get their food quickly. This is done by eliminating steps in the checkout process.
Eliminating steps, such as printing the receipt, speeds up the checkout process. Instead of printing, customers get to choose if they want their receipt sent to their email or a text.
2. Reduced Setup Costs
Standard restaurant POS systems come with all kinds of hardware that require installation. Installing restaurant point of sale systems can also get costly when compared to a mobile point of sale system.
For an mPOS system, all you need to do is download an app or contact your POS provider to set up your software. There is no need for additional hardware or equipment because you can use your existing mobile devices.
Many establishments have a tight restaurant profit margin and are always looking into ways to reduce restaurant monthly expenses. Investing in an mPOS system can reduce overhead expenses.
The upfront costs for a mobile POS system with cloud-based functionality are much lower than those of a standard POS system. There is no need for workstations or expensive computers. All that you need is an Internet connection, payment hardware, and a printer.
3. Improved Customer Service
In the restaurant industry, customer service is huge. With a mobile point of sale system, businesses can link customer profiles to their software. This allows repeat customers to set up their loyalty program profiles.
As a restaurant manager, you can access customer information during the checkout process. This allows you to create a more personalized checkout experience by mentioning their name or referencing any discounts they may have available.
Servers and wait staff use mPOS systems on the go which means that they can place customer orders immediately. As a result, it reduces the risk of forgetting or messing up the order.
Restaurant technology is constantly innovating. Chances are that you will have to update your mobile point of sale system at some point to keep it up to date.
Updating your system will allow you to integrate different platforms that will streamline business operations. Restaurant POS integrations include connecting your system to order management software, restaurant inventory software, and accounting software. This way, you can create a POS report for each task.
Frequently Asked Questions About an mPOS System
Choosing the right restaurant POS system is essential for restaurant success. The ideal mobile point of sale system for your restaurant should include useful features and software. This way, you can streamline restaurant operations.
Be sure to consider the integration options that are available for your mPOS system along with all the features. Here are some commonly asked questions and answers regarding the mobile point of sale system.
What Is the Main Advantage of Using a Mobile Point of Sale System?
The main advantage of using a mobile point of sale system is that it’s cost-effective and contains similar features to a standard POS system. A fixed POS system with an electronic register comes with big costs. On the other hand, an mPOS system has smaller monthly payments and mainly relies on cloud-based subscriptions.
What Is the Difference Between a POS and an mPOS?
The difference between a POS and an mPOS is that an mPOS is mobile which allows you take it with you on the go. A POS is fixed and cannot be transferred easily. An mPOS system is designed to be used with a tablet or smartphone instead of a desktop computer.
What Is Mobile POS Example?
An example of a mobile POS system is a smartphone or tablet that restaurants use as a register. Imagine asking for the bill at a restaurant and being able to use contactless payments right from your table to pay for your meal. This is possible with the use of a mobile point of sale system.
Many fast food restaurants and food trucks utilize mPOS systems because of their ease of use. They’re easy to take on the go and process payments efficiently. It’s possible to access the credit card payment gateway through cloud-based services or an Internet connection.