Traditional POS systems were once essential for businesses but used to take up a lot of your counter space. But now, they’re getting a serious upgrade: softPOS (Software Point of Sale). It lets smartphones and tablets take payments. So, no more bulky machines; just your phone accepting payments easily.

Small business and restaurant owners are loving it! Who wouldn’t want a cost-effective, flexible way to process payments? This blog explains what a softPOS solution is. It also talks about its benefits, uses, and tips to help you use softPOS successfully in your business.

What is a SoftPOS Solution? 

Imagine you run a coffee cart or a food truck and move to different spots around the city. Carrying a regular POS system would be a headache — with cables, terminals, receipt printers, and card readers everywhere you go.

SoftPOS turns your smartphone or tablet into a payment machine. Instead of needing bulky hardware, you can take payments right on your mobile device using just software. It’s an easy and simple way to accept payments without the extra equipment.

This software uses your device’s NFC (Near Field Communication) to handle contactless payments. It’s cheaper and more flexible than old POS systems.

So, the big difference: a B2B softPOS solution lets you handle payments just like a traditional POS system but without the pricey machines or tricky setup.

What Makes SoftPOS So Great?

SoftPOS offers so many great perks that it's quickly becoming a go-to choice for businesses!

1. No Need for Expensive POS Hardware

For a small business, buying expensive POS equipment can be tough. SoftPOS lets you use your phone or tablet for payments. No need for extra gadgets. For instance, if you run a local bakery that sells cupcakes at farmers’ markets, you can skip the high costs of traditional POS systems. Just download a softPOS app on the owner’s smartphone. It’s an easy way to start accepting payments without spending a lot of money. 

Traditional POS systems require significant investment in physical hardware, such as:

• Terminal hardware
• Card reader
• Cash register
• Receipt printer
• Barcode scanner
• POS stand or mount
• Customer display
• Cash drawer

2. Processes Payments Anywhere

Imagine your food truck is parked at a lively city street festival, like the Austin Food & Wine Festival, or you’re catering a private event in a cool, remote spot like Joshua Tree, California. Using a softPOS solution can help you quickly serve customers no matter where you are. There’s no need to rely on stationary terminals. Similarly, pop-up restaurants or any business that’s on the move can keep operating smoothly with a softPOS terminal, no matter where they’re parked or visiting.

3. Supports Modern Payment Methods

More customers are using digital payments these days. In fact, 69% of US adults said that they made a digital payment in the past three months to make a purchase. B2B softPOS helps businesses keep up with such payment trends. Whether your customer does a quick tap with a card or uses a mobile wallet like PayPal, Samsung Pay, or Apple Pay, a softPOS solution makes sure you're ready for all these payment methods.

4. Integration with Financial Systems and Loyalty Programs

SoftPOS systems often come with the ability to integrate easily with the existing financial setup of a business. This includes:

• accounting systems
• inventory management 
• customer loyalty programs

So, if you’re using softPOS technology, your system can automatically link sales transactions to your accounting software. Consequently, it would update your books in real-time and offer points to repeat customers through your loyalty program ideas.

5. Fast and Efficient Payments

Speed is super important in customer service, and softPOS really helps speed everything up at checkout. It lets you accept guest payments quickly. This means shorter wait times and more transactions each hour. Your customers will have a better experience, and you’ll have less hassle.

That’s why, in busy restaurants, servers take the softPOS terminal right to the customer’s table. Fast and easy payments speed up the service and make customers happier by reducing wait times.

Who’s the Ideal SoftPOS User?

Small retailers and restaurant owners usually have limited resources and tight budgets. Traditional POS systems can be expensive and not practical for them. SoftPOS is a cheaper solution. It lets these businesses use their existing smartphones or tablets to handle payments. 

So, if you're opening a new coffee shop and don’t have a lot of money, you can start quickly with a softPOS app on a tablet. This is a simple way to save money and avoid buying expensive equipment.

Apart from them, in big companies, softPOS helps delivery workers and outdoor sales teams by making transactions smooth. Freelancers, like photographers and consultants, can also use softPOS to accept payments easily while on the move.

SoftPOS vs mPOS: What’s the Real Difference?

SoftPOS and mPOS both let customers make mobile payments. They allow transactions through smartphones or tablets. But they're not exactly the same. Here's a table comparing softPOS and mPOS:

Fixing SoftPOS Challenges: Easy Solutions 

Security Concerns

Mobile devices can be prone to cyberattacks. To avoid risks, use PCI DSS-compliant softPOS apps that feature encrypted transactions and tokenization. This way, you can protect sensitive payment data.

Connectivity Issues

SoftPOS relies on internet or cellular data, and poor connectivity can disrupt payments. So, go for strong network connections with reliable providers. On top of that, choose solutions like OneHubPOS. It supports offline payments, ensuring smooth transactions even without internet access.

User Experience

Some employees may find the digital interface difficult. So, go for user-friendly restaurant POS solutions with an intuitive interface. Also, you should train your staff to ensure smooth operation.

How to Get the Most Out of Your SoftPOS

To get the most out of softPOS, stick to some best practices. Keep everything secure, reliable, and efficient to really make this solution make your business successful. 

1. Stay Secure with PCI DSS Compliance and Updates

Since your softPOS will handle payment data, security must be a top priority. Choose a softPOS solution that is PCI DSS-compliant. When it will keep your payment info safe and secure, you won’t have to worry about sensitive data being handled improperly. 

Furthermore, the best softPOS providers release updates to stay compliant with the latest security regulations. So, regularly check for software updates. 

2. Don’t Let Your Device Be the Weak Link

Your smartphone or tablet becomes a payment terminal when you're using a softPOS solution, so you must keep it safe. Make sure you:

• use multi-factor authentication (MFA)
• set up a lock screen
• keep your devices updated

MFA ensures that only the right people, such as you and your staff, can access the softPOS app. Don’t forget to regularly update your device’s operating system and security software to keep important details secure and avoid any vulnerabilities.

3. Train Employees 

To keep operations running perfectly, make sure everyone on your team knows how to use the softPOS system. Set up a quick training session that shows them how to:

• handle payments
• fix any issues that come up
• help customers with payment questions

At the end of the day, everyone should be on the same page and ready to go!

4. Have Backup Systems in Place

Like any tech solution, Soft POS technology can run into hiccups now and then, such as network problems or app glitches. So, have a backup plan ready for such unfavorable situations. You may carry a manual card imprinter or set up an alternative payment method, such as invoicing through email. This lets you process payments even if your system is down.

5. Keep an Eye on Transactions to Spot Fraud

Review your transaction history and softPOS system to identify any irregularities or potential fraud attempts. Note that softPOS systems often come with monitoring features that alert you to any suspicious transactions or irregular payment patterns. So, set up those transaction alerts.

Wrapping It Up: Why SoftPOS is Your Smart Choice

Small businesses and restaurants adopting softPOS with the right strategies and powerful security measures can get amazing benefits, including cost savings and better flexibility. As softPOS becomes increasingly important in modern payment processing, it stands out as a future-proof, scalable solution that ensures smooth payment experiences. 

For a comprehensive softPOS solution that teams up perfectly with your business, explore OneHubPOS today and amp up your payment capabilities effortlessly. Book a demo right away!