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5 benefits of mobile POS system for your side gig
Jan 13, 2024 | 5 minute read
Explore the benefits of a mobile point-of-sale (POS) system for your side gig that go far beyond accepting payments, anytime, anywhere.
Whether it’s walking dogs, selling baked goods, tutoring kids online or cutting lawns, the popularity of having a side gig is on the rise. More than one-third of U.S. adults earn extra money beyond their main source of income through a side hustle. If you’re one of them, or considering joining their ranks, you need the ability to accept payments from customers for your side gig.
While some of your customers may still prefer to pay with cash or checks, research from the Federal Reserve shows that the majority of US consumers feel comfortable making payments via credit cards, debit cards, and mobile payment apps. To accept payments from customers anywhere, anytime and grow your side hustle, you will need a mobile POS payment system. Let’s understand what this system is and the benefits it offers to your side gig.
What is a mobile point-of-sale system?
A mobile POS system is a payment acceptance solution that requires only a smartphone (acts like a mobile pos device for processing payments), mobile app, and a small card reader. This is a good fit for a part-time small business because you can process transactions anytime, anywhere.
While offering customers a convenient way to pay is good for business, the benefits of mobile pos system go well beyond the transaction.
Get started with low setup costs
Whether you are just starting out or striving to grow your small business, controlling your operating costs is critical. Choosing a mobile POS payment system is an easy way to test out your sales opportunities without committing to a hardware setup or paying for expensive software subscriptions. Plus, you may not even have to pay for the app itself, with the only cost going towards renting or purchasing a card reader and small payment processing fees on every sale.
As you work through your business setup checklist, you can rest easy knowing you have chosen a simple mobile POS solution and focus on other important tasks of your side hustle.
Take payments anytime, anywhere
At the farmers’ market, on a customer’s doorstep, or anywhere your side hustle takes you – you need the ability to receive payments quickly and easily. Choosing an app-based mobile POS system allows you to manage customer payments on your personal iOS or Android devices.
Gone are the days of lugging around clunky payment devices or searching for nearby Wi-Fi networks – your mobile POS system will allow you accept payments securely over cellular data networks with a tap on your smartphone or a swipe on your small mobile card reader. You can also view sales information from your mobile app and offer your customers SMS or email receipts for their purchases.
Improve your cashflow
You probably started your side gig to earn extra income or explore a new career option – that means you don’t have time to wait for funds to make it into your business bank account. Your mobile pos payments provider should offer quick settlement of funds and not place a cap on the total. You may also want to find a payments processor that offers same-day funding on holidays and weekends.
Tracking your cashflows and paying your business expenses should be the easiest part of your side hustle – make sure your mobile POS lets you stay focused on your products, services, and customers instead of administrative tasks.
Keep your side hustle organized
The mobile payment app helps you stay organized by serving as a central hub for your business. Whether you are tracking sales revenue or product inventory, your cloud-based mobile payment solution is an invaluable source of information about your operations; sync this information with your accounting software and business management tools to make sure you are staying on top of sales trends and growth opportunities.
Grow your business over time
While you may just be a team of one now, choosing a mobile POS system with scalability in mind will make your future growth easier. Your payments provider should offer options to add hardware and software features to your point-of-sale solution over time – without having to switch systems or incur unforeseen costs.
Whether you hire an employee, need to add options like point-of-sale lending, or expand to online selling, your payment provider should help to grow your business seamlessly.
As more Americans turn to side gigs, they need flexible payment options to support their small business operations. Connect with a payments specialist to get started and leverage the benefits of mobile pos payment system today.
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