Mobile devices are sweeping the Point of Sale (POS)
industry across the world and India is no exception to this new-found trend in retail segment. Convenient to carry, facility to transact anywhere and anytime, rugged usage and multi-functional applications make Mobile POS a sure hit among Indian retailers.
According to a study on Mobile POS
by Radiant Insights, a leading international research firm, the global Mobile POS industry is likely to witness the growth of 9.6 per cent CAGR by 2019. So, what is Mobile POS then and how will it change the outlook of the Indian POS market in the coming years?
A mobile Point of Sale (POS) is an electronic payment device that transfers money using debit and credit cards at POS terminals in retail outlets.
Mobile POS systems are stacked with features such as Radio-frequency identification (RFID), Wi-Fi, smart card capabilities and Voice over Internet Protocol (VoIP). These are multi-purpose systems which are used primarily as data devices.
Apart from these advantages, Mobile POS devices are used for checking prices of various in-store commodities, sharing digitized notes, spot billing, writing reports, signature capturing, sending and receiving invoices and managing assets/inventory at retail outlets.
The wireless application helps Mobile POS devices to exchange sales and other data within a store or out-of-store locations. One can also send and receive faxes through emails, and mobile POS, also known as M-POS, can be linked with Bluetooth-enabled printers or other peripheral devices, to help line busting for faster checkout process during heavy rush at retail outlets.
Hence, mobile POS systems are useful to retailers of all sizes and domains, and can provide them with very many value-added services.
Mobile PoS devices are useful for various applications in industry and its sub-sectors. From general retail, food & beverages, hospitality, logistics to enforcement, transportation, micro-finance and healthcare, Mobile POS devices are extensively used for billing, inventory tracking, issuing instant challan, spot order booking, mobile banking, to name a few.
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