Beyond retail, businesses have found mPOS to be compelling technology that allows them to run better and even fuel growth. In this month’s mPOS Tracker™, featuring five new players and 12 updated player profiles, we talk with a general contractor — someone in a decidedly offline business — and get a snapshot of opportunities, both intentional and unintentional, that the adoption of emerging technology can open the door to.
The March edition of the mPOS Tracker™ features the latest innovations by players in the industry and an ever-expanding player directory.
Along with coverage of recent notable mPOS news highlights and trends, such as Visa’s 1 percent Square ownership disclosure and ParkHub and Verifone scoring big at the Super Bowl with mPOS parking services, we have also added five new players to the mPOS tracker family: AdvanPOS, Doha Bank, Dream Payments, eirpoint and KOAMTAC. Additionally, the profiles of 12 existing players were updated based on partnerships, new initiatives and other announcements.
mPOS: A Gateway Technology For Small Businesses
Our March mPOS cover story features a Florida-based general contractor who started using mPOS services — in his case, Square — a few years ago and has since gotten more than he bargained for by changing the way he invoices and receives payments. He’s found, in fact, that adopting the technology has allowed him to grow his business faster than he would have conceived imaginable back when he switched over to mPOS.
Here’s a sneak peek:
It all changed for Ken Miller when he took the plunge on a solution that would allow him to easily bill and receive funds from his snowbird clients up north during the offseason. Miller, who’s a general contractor and the owner-operator of The Screen Depot, based out of Boynton Beach, Florida, found dealing with out-of-state client payments to be a hassle for both parties.
There were all the different merchant services’ fees, with every card taking a different cut, “so it made it much more difficult for us to be able to bid a job properly,” Miller said. “First, not knowing whether they were going to use a credit card and, then, which card they might end up using.”
Then, three years ago, Miller, who admits to being cautious when it comes to new ventures and technology, took a leap of faith per his millennial son’s recommendation.
“I’m not willing to stick my foot in the door without really knowing where I’m going to go,” he said.
What Miller — who specializes in the installation of patios, decks, sunrooms and hurricane windows — enjoyed after switching to mPOS was convenience and savings, he said. He used the service to produce eInvoices and use the e-card reader on his iPhone.
Miller chose Square’s mPOS solution and said that, in addition to giving him near-immediate access to funds, his customers got benefits, as well.
“They can use a credit card to get flyer miles and gift points but, on the same token, get the protection through Square.” One of the things that Square offered Miller was the ability for funds to be held until they’re completely satisfied with his work.
What Miller didn’t foresee when he joined the mPOS bandwagon was how much of a springboard it would be to growing his business.
About The Tracker
The mPOS Tracker™ is designed to offer an organizing framework for evaluating the many players that have entered the mobile point-of-sale (mPOS) sector. For the purposes of the Tracker, we will look at all mobile devices — mobile phones and tablets — and will profile players who enable commerce via either. Consider the monthly mPOS Tracker™ as our best attempt to give the payments space a “playbook” on the mPOS ecosystem and how it is evolving — a sort of “who’s on first” perspective of who’s in it, what their offerings are and how the market may have evolved month to month.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
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