The U.S. is home to more than 8,700 registered farmer’s markets, not to mention thousands of crafts and arts fairs, holiday festivals and other events, where small vendors come together to sell their wares.
But making sales move and boosting the bottom line isn’t only about making compelling products. It’s also about utilizing the mPOS system to make it easy for merchants to accept payments quickly, stay organized and not spend too much revenue on fees.
In the latest mPOS Tracker™, PYMNTS looks at how merchants make these decisions and reports on the latest headlines around the mPOS space.
Around the mPOS World
Be it the local farmers’ market or world famous art festivals, an increasing number of vendors big and small are turning to mPOS systems to stay competitive and accommodate their customers’ changing payments habits.
Recently in Australia, festival-goers bought drinks and food – digital-only – from approximately 50 bars and pop-ups at the country’s Adelaide Fringe Festival. The initiative came after a major festival venue, Royal Croquet Club, which leveraged contactless payments to help attendees leave their cash behind.
In Spain, food sales are also becoming more digital-friendly. El Corte Inglés, the largest department store chain in Europe, announced it would begin using a platform developed by banking partner BBVA to facilitate mobile payments from Chinese tourists at its Spanish locations. The platform is designed to enable those locations to accept purchasing via Alipay, which is a payment method popular among Chinese travelers.
Meanwhile, in Sri Lanka, startup UPay announced merchant- and customer-facing apps enabling payment via scanned QR code, near-field communication or SMS. To register with the app, customers must supply a phone number, national identity card number, email and name, and link bank accounts or cards as their payment method.
For more details and the rest of the latest news and trends, download the mPOS Tracker.
Event vendors find their mPOS matches
From open-air markets in the summer to holiday festivals in the winter, events are a major way for some small vendors to find new customers, raise their profiles and sell their wares.
But choosing the right mPOS system can be almost as important as choosing the right selling venue.
Vendors need to ensure they’re accepting their customers’ preferred payment instruments and handling the sales quickly and in an organized manner. Plus, they also need a system that’s easy to use, and with fees that don’t dip too much into their income.
PYMNTS caught up with vendors Bill Phaneuf of furniture company Frames with a History, Robin Cohen of homemade jams company Doves and Figs and Ashley Durrer of photographic figurine company 3D Bean, to discuss why each business turned to mPOS systems, and how they chose the system that was right for them.
To read the full story and see a provider directory of major players in the space, check out the April mPOS Tracker™.
About the Tracker
The mPOS Tracker™ is your go-to resource for staying up-to-date on a month-by-month basis. The Tracker highlights the contributions of different stakeholders, including institutions and technology, coming together to make this happen.