Nowadays, a lot of retailers and businesses have started using Mobile Point of Sale systems (mPOS) to collect payments across their offline touchpoints. After all, mPOS systems are easy to set up, convenient, and cost-effective.

“Transaction value in the Mobile POS Payments market is projected to reach US$3.30tn in 2023.” Statista

With the emergence of virtual currencies, a lot of businesses have started accepting crypto through mPOS systems. In this blog, we will understand what a Bitcoin mPOS is, explore its advantages, and learn how you can start collecting Bitcoins at your offline outlets. If that sounds exciting, let’s get started.

What is a Bitcoin mPOS?

A Bitcoin mPOS works just like a traditional mobile Point of Sale system. However, instead of fiat money, it accepts Bitcoin — one of the most popular cryptocurrencies. Users can access mPOS from anywhere via the internet through a compatible browser and native mobile apps.

The best part? Merchants don’t need additional hardware to run mPOS apps. They can use their existing smartphone, tablet, or PC to collect Bitcoins through the mPOS app. It’s one of the easiest, simplest, and quickest ways to accept Bitcoins across your offline channels. Let’s understand how it works.

How does an mPOS work?

An mPOS app can generate payment QRs that can be shared with your customers. They can complete their payments through their preferred Bitcoin wallet by scanning the QR. Let’s understand how it works.

Customer selects products :A shopper selects the products they want to buy and brings them to your sales rep. He will create a payment QR against the invoice through the mPOS app installed on his device.

Customer pays through their preferred wallet: To complete the payment, the customer can scan the QR displayed on the POS device. They can pay through their preferred crypto wallet via an on-chain or lightning network.

Payment confirmation message: Once the payment is received, it will be credited directly to your account. You can request a payout at any time you want.

Advantages of mPOS

A mobile POS system is a lot more efficient than traditional point-of-sale solutions. Here are a few advantages of an mPOS:

Easy to setup: You can run a mobile POS on your existing hardware. All you need to do is install the native application on your device to start accepting payments.

Portable: Because an mPOS works on your smartphone, you can carry it wherever you go. Whether you are visiting a conference or want to collect payments from your offline stores — a mobile POS has got you covered.

Enable faster checkout: A mobile POS system can turn your employees into checkout points, preventing longer queues and enabling a faster, seamless checkout experience.

Highly secure & reliable: Most mobile POS systems are cloud-based. This means all your critical data is stored in highly secure web servers — making it more secure and reliable than traditional POS systems.

Free software upgrades: Mobile POS systems are simply native apps running on supported devices. Thus, they can receive lifetime free OTA updates — adding new features and enhancing their security.

No hardware upgrades or recurring charges: You can run the POS app on your existing Android and iOS devices. No need for any additional high-end hardware to start accepting payments. Thus, mPOS can not only save you from expensive hardware upgrades but also recurring maintenance charges that you’d otherwise spend to keep your POS devices up and running.

How to collect Bitcoin payments with an mPOS?

A Bitcoin mobile POS system works like a traditional mPOS — except it accepts Bitcoin instead of fiat money.

To start collecting Bitcoins at your offline outlets, sign up with a Bitcoin payment processor and install their mPOS app on your smartphone.

Here are a few features you will commonly find in most Bitcoin mobile POS systems:

Scan & Pay: You can generate scannable payment QRs through the Bitcoin mPOS app. Your customers can scan the QR to complete their payment. The amount will be reflected in your account in real time.

Branding: You can customize the QR code and change its color, font, icon, logo, etc., to match your brand guidelines. This way, you can ensure you deliver a consistent shopping experience across all touchpoints.

Seamless payouts: Because Bitcoin transactions are instant, you can settle your payments almost immediately with just a few clicks. Many payment processors also allow you to schedule your payouts based on your preferences.

Mobile POS systems are easy to set up, convenient, and cost-effective. You can start accepting Bitcoins in just a few clicks with an mPOS.

Why accept Bitcoins over fiat money?

Being a virtual currency, Bitcoin has several advantages over fiat money. It can neither be created at will nor destroyed. This means Bitcoin can sustain its value in the long run and cannot be inflated by any single entity.

Here are a few advantages of Bitcoin over fiat money:

It’s decentralized: No single entity can govern Bitcoin and its flow. This makes it a decentralized currency free from the dictatorship of banks and other financial institutions.

No fraudulent chargebacks: All the transactions conducted over Blockchain are irreversible and permanent. Thus, there won’t be any fraudulent chargebacks.

Lowest transaction fees: Processing Bitcoin is three times cheaper than credit/debit card transactions. If you transact heavily, you can save a huge sum of money in the long run.

Private & anonymous: While all the traansactions through a Blockchain are publicly traceable — no one can associate your real-world identity with your wallet address. This makes crypto transactions anonymous and private.

Mobile payments are becoming the new normal. They are convenient, quick, and seamless. With a Bitcoin mPOS system, you can collect crypto payments right from your mobile phone, anywhere, any time.