The use of Internet of Things(IoT) technologies at the point of sale(POS) has recently taken the market by storm, with the number of users using IoT for payments expected to rise to 4 billion by the year 2020. Usually, payments at the point of sale involves a merchant calculating the amount owed by the customer and generating an invoice for the transaction. However, mBeaconSAM has come to revolutionize payments at POS with its efficiency that include crypto processor, IoT sensors, and Bluetooth LE capabilities that make payments a seamless process.
Increased flexibility in payments
The new product mBeaconSAM enhances flexibility of payments by allowing merchants to use their card readers to operate the product. The small smart card can fit and run on different card readers, hence merchants do not have to buy other card readers to work with mBeaconSAM. The method also increases check out speeds since it takes lesser time to process mobile payments than credit cards.
Reduced transaction costs
The products enable the use of mobile payments over the internet. By use of mobile payments, customers can save up on transaction costs incurred when you use credit cards for payments. Since many payments options structure their fees differently, mobile payments are the most cost-effective.
Enhanced payments history analytics
The card stores data and can efficiently run customized software applications. With the large on-board memory, the card can store a customer’s transaction history and can retrieve it if a customer needs it as a proof of transaction in the future.
Increased customer interactions
The Bluetooth capability enables tracking systems and is compatible with Bluetooth compliant smartphones and other popular beacon profiles. The tracking system could lead to increased interactions on platforms like iBeacon or Eddystone and other mobile applications right at the point of sale (PoS).