5 reasons SMEs should be using mPOS

By 2019, the amount of mPOs-terminals, which allow clients to accept credit cards with any smartphone, will grow from a present 13.3 million units to 54.04 million units worldwide (according to American research, published on the site payspacemagazine.com). The authors of the research forecast that for the future of the Asian and African markets, which haven’t yet discovered mobile payments. In 2014 in Indonesia, Vietnam, and Thailand there were just a little more than 200 thousand mPos-terminals, while at the same time almost 200 million people in these countries owned credit cards. We’ve compiled a list of five reasons for owners of small or medium sized businesses in any country of Asia to see why mPos-apparatuses will help their business raise profits and add loyal clients.

+ 20% profit

We founded the company in Vietnam in 2014. At the moment our clients are hundreds of small and medium sized businesses, as well as several large companies. Among these clients are insurance companies, taxi services, small restaurants and educational institutions. The majority of entrepreneurs still believe that bank transaction fees greatly decreases their income. But the experience of our clients proved the opposite. By giving their customers the ability to pay with cards, spending grew at least 20%. The reason is simple: people part easier with virtual money than with real bills. More than that, the majority of card owners can simple leave a balance for 50 days. Therefore, paying with cards, people all over the world order more food in restaurants, buy more unnecessary dresses, and arriving at the salon for a manicure, decide to also get a pedicure. Why refuse yourself the pleasure of buying it today if you have to pay for it only after a month and a half? Now we will count the cost: the amount of the check increases 20%, and the commission is less than 2.7%. The benefit is obvious.

Individual approach—the key to long-term loyalty

By connecting your smartphone to mPos-services, you can know every clients face. The system allows you to remember everything: which pizza the consumer orders and how many times a week he does it. You will know precisely how much your clients spend and how they spend it. You will remember all your customers and they won’t need to fill out hated surveys. After all, when you ask a client to send a check by mail or SMS to your phone, his personal information will always be kept on your database.
Consequently, you’ll only have to look at the data table composed by the mPos service in order to develop a customized proposal to maintain loyalty to each client. Imagine how pleased your clients will be if your campaign is especially designed for their birthday and extends the very product or service they want.

Know your agent in person

Throughout the world insurance and retail companies face one and the same problem: their companies employ hundreds, and even thousand of agents, insuring automobiles and houses, offering cosmetics and books, selling tour packages or tickets to shows. But how to know who of your agents works effectively and who doesn’t, and which urban residents already know everything about your goods or services and which urban residents your agents haven’t even looked at.

After all, money and signed contracts are brought into the office once a week, and sometimes once a month. With the connection of all agents to mPos-terminals everything will be simpler. The signal of any bank transaction, that is any paid contract or purchase, will be received by the company’s main office immediately.

And with that signal the information about the place of the purchase and the sum attracted by each agent of the company. In this way, after only a few days you’ll know everything about your agents and about your business, and without difficulty you can replace lazy agents for more active ones and direct additional strength to areas of revenue shortfalls. At the same time, that is especially important for insurance companies. Information about signed contracts of insurance, numbers, and names of clients will be added to the database immediately, and accountants won’t have to wait until the agents bring them the receipts to confirm purchases. Because of similar problems many clients have, for example, gotten into accidents, and turning to their insurance companies, been told that no one knows about their policy. Even insurance that had been renewed a month before.

No risk of theft

Another concern of companies, sending their products to client’s homes—the theft of cash by the agent responsible for the delivery. Our clients, who just started to use our terminals, realized that sending large amounts of goods with a new worker is risky. You don’t know if he will return with the money or not. Connecting smartphones of deliverers to mobile terminals, you don’t have to be afraid for the fate of the goods or money of the company. It’s unlikely that a thief would be interested in a plastic box the size of a calculator.

It’s cheap and quick

Today, the majority of inhabitants of varying countries of the world have a smartphone in their pocket or purse. For the acceptance of non-cash payments, it’s enough to buy just the card reader for 50 dollars and install the special free program on your mobile phone. You don’t need to open a separate account at the bank, to register as an individual entrepreneur, to gather lots of documents and wait for weeks for the bank’s decision. More than that, many banks require you to make more than 2,000 dollars a month in order to open up an account. Simply drop in on the site and order a device, join it with a smartphone through a connector for headphones and you can already accept non-cash payments, amazing clients with your progressiveness and convenience.

It’s not a coincidence that mPos-services were pioneered by the company that became Apple, offering to their clients around the world to pay for their iPhones not at the register, but straight to the manager, who consulted them before the purchase. This, the most advanced company in the world killed two birds with one stone—saving on services of cashiers by making them consultants in the store, getting rid of the lines, and even demonstrating how with one flick of the wrist their telephones can transform into mobile payment devices without extra costs.