Square is a great solution. However, it doesn’t fit every solution because the rates are higher and it’s a very limited solution.  Businesses who are already processing credit cards should ask their current provider.  Most credit card processing companies typically offer a mobile point of sale system, which is a better route because of its integration.  

Having two disparate systems only makes things more difficult when trying to reconcile or when you have to research a transaction.  The other thing to consider is the rates.  Square is typically going to be higher than your current provider which will save you some money on fees.

#2. Reporting Tool

One of the important things to look for when shopping for a mobile point of sale system is the online reporting tool.  Typically, every mobile payment solution comes with a website where you can log in to see your transactions.  

Some things to think about:

• Does it have the capability to process a transaction for when a customer calls in, or I’m back in the office?  Processing a transaction online is typically called a virtual terminal.
• Does the online tool have the ability to reprocess a transaction in the event they call in for more services?

[bctt tweet=”Does your mobile #POS offer the ability to process repeat transactions? #MobilePOS #Mobilepointofsalesysystems #dfgaz” username=”MerchantSvcsAZ”]

Having the ability to pull up a transaction that was previously processed, change the dollar amount, and charge the card holder again is a great feature.  It doesn’t seem that important, but with everyone so busy these days calling a customer again to get their card information a second time can be very time-consuming.

#3. Swiping vs Keying Credit Cards

Swiping vs. keying is probably the most important as well as the most difficult thing you can look for when shopping for a mobile point of sale system.

It’s the most important because it can cost you significant dollars on processing fees.  When processing credit cards, the best thing you can do from a cost perspective is to swipe your cards.  Visa, MasterCard, and Discover provide lower rates for swiping versus keying.  So if you have a swiper that doesn’t work very often, then you’re paying higher rates.

It’s the most difficult because no mobile solution provider is going to tell you that their swiper only works sixty percent of the time.  For this research we suggest you performing an online search to see what other customers are saying.

[bctt tweet=”Does your mobile payment #swiper not work 60% of the time? #POS #dfgaz #mobilepayments #swiperissues” username=”MerchantSvcsAZ”]

If you can’t find anything online, then proceed with caution and make sure you don’t sign a long-term contract with whatever solution you choose.  Signing a short term or no contract will allow you to try another provider if they can’t get your swiper to consistently. 

What is the Take Away with Selecting a Mobile POS System?

As stated, there aren’t many things to look at when looking for a mobile point of sale system.  However doing your due diligence with these basic facts could be very crucial to your business.  As we always suggest, doing your homework by getting feedback from others who have ventured before you is a great practice.  

Mobile point of sale systems are easy to use and fulfill a great business need, but you want to make sure you are choosing the right solution that fits your business model.