mPOS systems are portable hardware devices which work wirelessly and process payments through a range of payment methods – Credit Cards, Debit Cards, Chip-based cards etc. With mobile wallets and NFC technology gaining popularity, many of the mPOS hardware allow payments through these as well.
These are much more cost effective than PSTN (public switched telephone network) or Desktop GPRS POS systems, which have high installation & maintainance costs. Additionally, most of the available mPOS systems are suitable for all sizes of business. Since the hardware unit comes equipped with a SIM slot, merchants in remote areas can also process payments through GPRS, in the absence of a fixed line network.
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