mPOS (Mobile POS) refers to mobile point of sale system which is the combination of software and hardware. This is an electronics device used by merchants for transaction in daily business life.
Nowadays mPOS machine is going to be key element in businesses just because of its cashless transaction function.Basically it is used in retail shops where customer likes perform transactions through Credit or Debit card. This is basically used in retail shop, grocery, food and beverage industry.
I think till now you have understood for what machine talking about. Even if you have doubt I give an example which helps you to understand this clearly.
Have you ever go to malls for shopping, or MacDonald’s for food, whenever you don’t have cash money, what you do? You preferred your credit or debit card for payment. Am I Right?
And the shopkeeper or seller swipes your card through a small machine and you enter your pin code for complete payment.
I am definitely sure most of you experienced this, this small machine is known as mPOS machine and this whole process is known as mPOS payment system.
So now you are very familiar with mPOS machine, but did you ever think how this machine works and hoe payment process?
Any question arises in your mind now?
Yes sure, don’t worry, now we will discuss about this topic, so keep tuning with us till end for more informative knowledge.
We all used mPOS machine in grocery shop and malls for payment. But we never think how this mPOS machine works? How our payment settled?
Without wasting time I come to the point after all how this works. As we know mPOS machine is the combination of software and hardware and its software part is integrated with seller’s bank account.