Resources and tips
The growing demand for mobile payment solutions has been fueled by a number of factors, among these, adapting to changing consumer behaviors and the impacts of the Liability Shift remain as the core drivers.
Today, most consumers expect to pay for their purchases from wherever they are in the store. This has created a demand for point of sale solution providers and payment companies to build new innovative payment technologies that cater to the consumers, which results in mobile point of sale (mPOS) being one of the most talked about solutions in payments.
mPOS is a tool for both large companies and small medium businesses (SMBs) to reduce friction for their customers, speed up checkout processes, and drive additional loyalty and business. They can provide better checkout experiences by enabling consumers to pay wherever they are in the store, at the table in a restaurant, or on the go if they are running their business in the field.
Even after more than a year after the Liability Shift, which took effect in October 2015, mPOS remains as the top pick among merchants when it comes to implementing an EMV-enabled POS solution. Since legacy POS systems usually come with exorbitant prices and complex implementation processes, most merchants have opted for mPOS solutions which are generally affordable and easy to implement, yet offer them the same level of protection against chargebacks and frauds.
The surge in demand has driven the growth of the mPOS ecosystem. While it is advantageous for merchants that mPOS retailers have been sprouting up across the industry, the plethora of solutions available is highly likely to send someone outside the payments industry into a tailspin. Whether you are planning to use a mPOS provider or build your own mPOS solution, there are many factors to consider, including EMV, compliance and security. We have put together a whitepaper to guide you through the most important things you need to know when picking a mPOS provider. To learn more about the potential benefits of having a mPOS solution, read how mPOS can increase your profits.