Why you should use a mobile POS for your side gig

Whether it’s walking dogs, selling baked goods, tutoring kids online or cutting lawns, the popularity of side hustles is growing. A recent survey* shows that one in three Americans have a side hustle, with two thirds of those people having started within the last three years. People looking to make extra money on the side need to be able to accept payments from customers. 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 more comfortable making payments via credit cards, debit cards, and mobile payment apps. That means you need a way to take payments beyond a cash box – also known as a point-of-sale (POS) solution.

What is a mobile point-of-sale system?

A mobile point-of-sale system (mPOS) is a payment acceptance solution that requires only a smartphone, mobile app, and small card reader. This is a good fit for part-time entrepreneurs because you can take payments anytime, anywhere with minimal startup costs or hardware commitments. While offering customers a convenient way to pay is good for business, the benefits of a mobile point-of-sale tool go well beyond the transaction.

• Get started with low setup costs

Whether you are just starting out or trying to grow your small business, controlling your operating costs is critical. Choosing a mobile payment system is an easy way to test your business idea without having to commit to lots of hardware or expensive software subscription plans. You don’t have to pay for the app itself and only pay for the rental or purchase of a card reader, as well as small payment processing fees when you make sales. As you work through your business setup checklist*, you can rest easy knowing you have chosen a simple mPOS solution and focus on other important tasks for your side hustle.

• Take payments anytime, anywhere

Wherever your side hustle takes you, you need to be able to take payments quickly and easily. Choosing an app-based mPOS allows you to manage customer payments on your personal iOS or Android devices and do business anytime, anywhere. Gone are the days of lugging around clunky payments devices or searching for nearby Wi-Fi networks – your mPOS will allow you to accept payments securely over cellular data networks with just a tap against your smartphone or swipe on your small mobile card reader. You can also view sales reporting information from your mobile app and offer your customers SMS or email receipts for their purchases.

• Improve your cash flow

You probably started your side gig to earn extra income or explore new career options – that means you don’t have time to wait for funds to make it into your business bank account. As your payments processor and POS provider, we offer quick settlement of funds and same-day funding on holidays and weekends. Tracking your cash flows and paying your business expenses should be the easiest part of your side hustle. The right POS solution will help 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 mPOS is an invaluable source of information about your operations. You can 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 to grow your gig work to a full-time small business.

• Grow your business over time

While you may be a team of one now, choosing a payment solution with scalability in mind will make it easier to grow your business. Your payments provider should offer options to add hardware and software features to your POS solution over time – without having to switch systems or incur unforeseen costs. Whether you need access to working capital tools, want to add options like point-of-sale lending, or decide to expand to online selling, your payments provider is here to help seamlessly grow your business.

As more Americans turn to side gigs, they need flexible payment options to support their small business operations. Mobile point-of-sale solutions can help you test out your side gig with low startup costs and minimal commitment.