Point of Sale

Why mPOS Advancements Can Mean Big Things For Small Businesses

As advancements in technology continue to create a culture of convenience, small businesses and nonprofits are reaping the benefits. The April edition of the PYMNTS mPOS Tracker™ contains profiles of more than 200 players in the space, along with an interview with PayPal director Chris Morse about mPOS solutions that are giving micro merchants the chance to expand their customer base and build profits.

Mobile sales are not just for the biggest retail players — at least not anymore. Thanks to the leaps forward in technology that have created a world of convenient, safe and fast mobile payments, small businesses have seen increased opportunity for mobile sales. With mPOS solutions, sellers of any size can harness the power of ever-present mobile devices and create retail opportunities wherever, whenever.

Growth was the name of the game for companies both large and small in the mPOS space this month, as players looked to expand their customer base. Square and Mint both announced they are expanding into Asia. Square will head down under to Australia, its fourth global market, while Mint is partnering with ABSS to bring its omnichannel payment products to Southeast Asia. Meanwhile, Paywork and Miura are hoping to attract a wider customer base by debuting solutions for Windows users.

The April edition of the mPOS Tracker™ features the latest innovations by players in the industry and an ever-expanding player directory, along with the latest news and developments in the mPOS world. The tracker contains profiles on more than 200 players in the space, including profiles of five new players and 14 updated profiles.

mPOS and micro merchants

For this month’s cover story, PYMNTS interviewed PayPal director Chris Morse about different ways micro merchants and nonprofits can build their customer base, and revenue, through mPOS.

Here’s a sneak peek: 

Many mPOS users, Morse explained, are micro merchants whose profits come primarily from shipping products out of their homes. These types of retailers often seek brand exposure and additional income by selling their creations at pop-up style events like craft fairs and flea markets.

“Traditionally, you see folks like a T-shirt maker at farmers markets, you see them in those types of environments. And we want to take that and those merchants who are traditionally online and move them to accept payments anywhere,” he explained.

In the past, taking a business on the road meant merchants could exclusively accept cash payments, closing them off from a large population of card-carrying consumers. With mPOS solutions, such as PayPal’s Here card reader, sellers can harness the power of their mobile devices and create retail opportunities wherever, whenever.

Morse doesn’t just tout mPOS capabilities theoretically. He’s seen firsthand how the solutions allow organizations of all kinds, including nonprofits, to increase revenue.

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To download the April edition of PYMNTS mPOS Tracker™, click the button below.

mPOS_download_here

About The Tracker

The PYMNTS mPOS Tracker™ is your go-to resource for staying up to date on a month-by-month basis. The tracker highlights the contribution of different stakeholders, including institutions and technology coming together to make this happen.

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NEW PYMNTS STUDY: ACCELERATING THE REAL-TIME PAYMENTS DEMAND CURVE – NOVEMBER 2020

About: Accelerating The Real-Time Payments Demand Curve:What Banks Need To Know About What Consumers Want And Need, PYMNTS  examines consumers’ understanding of real-time payments and the methods they use for different types of payments. The report explores consumers’ interest in real-time payments and their willingness to switch to financial institutions that offer such capabilities.

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