In recent years, technology has radically transformed the way companies conduct their business operations. One of the most impactful innovations in this scenario is mPOS (Mobile Point of Sale), which has revolutionized the financial transaction process.
This feature is responsible for facilitating payment transactions, especially for credit and debit cards . It provides efficiency and practicality in the customer’s purchasing journey, in addition to helping companies receive payments.
To learn what mPOS is, how it works and what are the advantages and disadvantages of using this system for a company , continue reading!
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What is an mPOS?
A Mobile Point of Sale (mPOS) is a oman whatsapp number data that uses mobile devices to operate the payment process . Basically, it allows merchants to process credit and debit card transactions, anywhere and at any time.
Card data is encrypted and stored in the cloud to ensure the security of card information . Some systems also accept other payment methods, such as Pix and digital wallets.
Thus, mPOS speeds up sales and payment processes, as it reduces operational costs and improves the customer experience. In this way, it allows control of receipts, regardless of where the seller is.
What is the difference between mPOS, POS and TEF?
mPOS , POS and TEF are financial transaction processing systems . Each of them has its own function, but they are present in the 15 best keyword analysis tools terminals that exist on the market today.
The choice of which one to use will depend on the type of business and the sales environment in which the company operates. Learn the difference between the systems:
- POS (Point of Sale) : This is a traditional point of sale system, usually found in physical stores. Examples of POS are cash registers, which process sales transactions. This system can be used to manage inventory, print receipts, and conduct transactions in physical stores.
- mPOS (mobile Point of Sale) : mPOS is a POS that uses mobile devices, such as cell phones and tablets, to function as a payment terminal. It is portable and offers the flexibility to process payments anywhere.
- EFT (Electronic Funds Transfer) : is a system used in credit and debit card transactions in physical stores. It is responsible for transferring financial information between the point of sale (POS) and the acquiring bank.
How does mPOS work?
mPOS is a payment solution that be numbers financial transactions to be carried out using mobile devices , such as smartphones and tablets, paired with a card machine .
Its purpose is to protect card data by encrypting and storing the data in the cloud. It can work in two ways:
- As a device linked to a bank account and a database; or
- With a device linked to a larger point of sale system, connected to a central network.