As per the nature of business and consumers, the businesses need apt solutions and they have POS, e-POS and m-POS to choose from. They are different in terms of their benefits to the users and features.
The POS systems are traditionally designed to conduct transactions at traditional stores. A scale to weigh items in a candy or grocery store is an example of a POS terminal. Older POS systems were just written receipts. These days, electronic POS or e-POS have become the new normal.
Electronic POS or e-POS is a cutting-edge technology which is more convenient to receive payments over smart devices. It is very convenient and beneficial to the users and one can easily download it from the play store. It is especially recommended for omnichannel businesses. It is basically an app that generates a link for payment or QR code to be shared with the customer for on-the-spot payments through mobile wallets, digital banking, cards, etc. This application is ready-to-use and accepts payments in any form on the go. Businesses can run their store smoothly with this app. They don’t have to worry about discrepancies and inaccuracies any time.
It provides a lot of benefits that e-POS can provide and it is even more convenient in areas where e-POS wouldn’t be sensible enough. Overall functioning of ePOS and mPOS is similar as they provide similar solutions to meet quick requirements of businesses. For example, one can use m-POS terminals in exhibitions and other sales environments. It provides fraud detection and high security to the merchant and adds a feeling of security for the customers to use cards. It helps buyers to avoid the inconvenience of cash payments. It can be distributed to several kiosks and stalls where sale is available. It also saves owners and delivery points to carry lots of coins or cash for change.