As the world rapidly shifts toward a digital economy, businesses have to act, adapt, and be ready to compete. In such a dynamic business environment, seamless customer experiences and flexibility reign supreme.
Even small business owners have to be equipped to handle these changes if they want to stay ahead of the game. Fortunately, fintechs in the Philippines like Maya Business now offer practical digital tools and solutions for business owners that allow the latter to take advantage of the latest tech innovations and make a significant difference to their bottom line.
One such innovation that small- and medium-sized businesses can explore is the portable point of sale (POS) terminal. A handheld device like the Maya Terminal serves as a debit or credit card machine, Quick Response (QR) payment facilitator, and integrated mobile cash register all in one. Offering compactness and convenience, the mobile POS and card payment machine allows business owners to conduct transactions anywhere within their establishment—or even beyond that, in the case of cashless payments on delivery or cashless payments during meetups.
Below is a guide on how portable POS terminals work and a list of reasons to consider investing in this kind of technology for your business.
How Do Portable POS Terminals Work?
Portable POS terminals are essentially portable credit card terminals that are meant to accept a variety of Europay, Mastercard, and Visa (EMV)-enabled cards. If you want to use such a device for your business operations, it matters to choose one that’s both EMV-certified and compliant to the Payment Card Industry Data Security Standard (PCI-DSS).
Serving as more than just a credit card swipe machine, a portable POS terminal should also come with the advanced capability to accept QR and Near Field Communication (NFC) payments for fast and easy cashless transactions. With all of these features baked in, this cashless payment solution will offer a multitude of benefits that can transform the way businesses operate and connect with modern customers in the Philippines.
What Are the Benefits of a Portable POS Terminal?
Some of the unique advantages that a portable POS terminal can offer your business are the following:
Enhanced Customer Experience: Catering to the Modern Shopper
With your own portable POS terminal, you’ll be able to offer your customers the convenience of on-the-spot payments wherever they are, reducing their waiting times and enhancing their overall satisfaction. Whether they prefer using cards or electronic money, your card payment machine will be ready to facilitate these transactions.
You’ll also be able to ensure personalized and efficient payment services with a portable POS terminal, both within your establishment and outside of it. There will be no need to make customers wait and queue in long cashier lines. Instead, they can expect personalized attention and service that fits their high standards.
Ultimately, a business like yours can leverage the flexibility of portable POS terminals and nurture stronger relationships with your customers. This, in turn, will foster customer loyalty and repeat business.
Boosting Sales and Revenue: Seizing Every Opportunity
A portable POS terminal will enable your business to close deals more quickly by bringing the point of sale directly to your customers, allowing for immediate transactions wherever the latter may be. The technology will facilitate quick and seamless transactions that drive immediate and consistent sales.
Two valuable use cases include accepting payments on the go and accepting cashless payments on delivery. Being able to facilitate these will allow you to tap into new revenue streams and reach customers in various locations, like out-of-town bazaar venues.
In addition, portable POS terminals allow businesses to cater to diverse customer preferences by supporting multiple payment methods, ensuring they never miss a sale. Whether your customers want to pay via credit or debit card or through their e-wallets, these terminals will be ready with EMV, NFC, and QR technology to process the transactions.
Streamlined Operations: Digitization for Efficiency
Integrating portable POS terminals with your business’s Electronic Cash Registers or ECRs will help you digitize some of your core business processes related to accounting and finance, enhancing your operational efficiency and simplifying your reconciliation experiences. This will be a big plus for a business of any size, given that you’ll want to retain accurate financial records to remain compliant with the Bureau of Internal Revenue (BIR).
Given that portable POS terminals run on automation technology, you can also expect manual tasks related to finance and accounting to be minimized. These streamlined operations will lead to increased accuracy and reduced errors, ultimately saving your business valuable time and resources. You’ll also be able to focus on the bigger picture for your financial decision-making and provide better customer service.
Seizing Growth Opportunities: Scaling for Success
Your new portable POS system will expand your reach and enable your business to grow beyond its physical location, catering to customers in various settings such as events, fairs, and pop-up stores. By being able to support multiple tenders and payment methods, you’ll be able to meet the evolving preferences of a diverse market, ensuring that no customer and no sale is left behind.
This, in turn, will allow you to capitalize on scalable growth opportunities and new sources of revenue potential. Indeed, a little machine like a portable POS terminal can bring about huge growth for your small or medium-sized business.
Takeaway
In the ever-evolving Philippine business landscape, staying competitive requires embracing innovation and meeting the changing needs of customers. Portable POS terminals offer a gateway to unlocking new potential for Filipino entrepreneurs and business owners, all by driving up sales and revenue and streamlining financial operations.
You’ll be well-equipped to navigate the modern business landscape with a portable POS terminal system. Provide your customers with a better buying experience by having these terminals available in your store.
