The use of technology for business has seen a giant surge in the 21st century. The devices that were earlier limited to specific operations have now found a permanent, practically irreplaceable place in day-to-day lives and businesses. Every industry has undergone a drastic revamp with the arrival of technology and retail is no exception. Technology has found its way to the retail businesses, transforming the way people sell or buy with the help of digital, specifically mobile devices.
Let’s learn more…
What is mPOS?
mPOS literally means ‘Mobile Point of Sale’. Any mobile device including a smartphone, a tablet or a dedicated device that replaces the function of a conventional cash register with a wireless solution is known as an mPOS system.
The point-of-sale (POS) is no longer just an immovable station for in-store transactions rather it’s evolved into a cloud-connected business management system. Juniper Research¹ states that mobile point-of-sale – mPOS devices will handle over 20% of all retail transaction value around the world by 2021, and at least a third of all mPOS devices will be a tablet or smartphone-based within the next couple of years resulting in at least $2.3 trillion in mPOS revenue.
Mobile technology has helped the beginning and growth of mPOS device systems. With mPOS systems, businesses can accept and process card payments. Businesses starting an online store with WordPress have been significantly facilitated with mPOS devices, with simplified payment processing at the customer doorstep. Businesses can enjoy the accelerated speed at which the payments are processed and small retail stores that rely exclusively on cash transactions can have the option to inexpensively accept credit card payments. As a result, businesses are rapidly replacing traditional payment setups with mobile-device-powered payment systems.
mPOS Security Challenges
When any retail store starts using mPOS devices, they equip their staff to deliver a more personal style of customer service. From anywhere in the store, an employee can answer questions related to any product, check inventory, order stock, place an item order through. They could also take payment and send an online receipt straight to the customer’s email and even SMS. While this increases the ease of doing business, it also drives in certain security challenges that can take the device as well as the business data security for a toss.
Let’s discuss the major security challenges faced while using mPOS..
- Data breach caused by unauthorized apps & websites
- Unsecured WiFi networks
- Non-emv ready card readers
- Hardware encryption
- Lack of software updates
- Unauthorized access & misuse
Consumer devices are best for convenience but are not secured, hence making them unsafe to use for the transactions with credit and debit cards involving sensitive information like credit card numbers and Pins. This is the reason why it is so important to take additional security steps when deploying mPOS devices. But it is not difficult if you implement an MDM for mPOS.
How to Overcome mPOS security Challenges using a Mobile Device Management Solution
Scalefusion Mobile Device Management enables the enterprise to deploy and securely manage their mPOS devices remotely from a central web console. Additionally, as the mPOS space continues to evolve as new mobile-powered payment methods demand an adaptive approach to implementing and maintaining mPOS devices & solutions, retailers can be sure that Scalefusion MDM has always been on the front line of these technologies and integrates to the latest mPOS solutions.
Restrict the device to business-specific apps & websites
With Scalefusion MDM, IT admins can install only identified, trusted apps and websites coherent to the business on the mPOS systems. IT admins can prevent access to unauthorized websites and control the app download from untrusted sources. This ensures that the mPOS device and data is not attacked by any malware.
Pushing identified WiFi networks
To ensure that the mPOS devices are secure behind a limited internet access point protected by a firewall, Scalefusion MDM provisions Wifi configuration. IT admins can push WiFi settings of identified, trusted networks and disable connections to any other wireless networks.
OEM partnership
Scalefusion partners with leading OEMs producing mPOS to auto-enroll devices into corporate device policies before they are shipped from the warehouse. When the mPOS devices are first powered and connected to the internet, they are equipped with business policies and locked to business-specific applications.
Passcode protection
Scalefusion MDM for mPOS also provides password protection to the devices as they carry sensitive data. So, only the authorized personnel can only access the mPOS devices. With Scalefusion mPOS MDM, IT admins can enforce passcode policies on Android and iOS devices deployed as mPOS systems.
Inventory management
mPOS devices can do more than just perform transactions. With a networked system, you can see when new stock is needed and order it automatically, or in certain businesses, order special products. Do you have a wireless barcode printer? Receive notifications about price adjustments on your mobile device, and send new information to your barcode printer, and pick up the new labels without waiting. The convenience options are endless.
Location tracking
With Scalefusion MDM, you can monitor where a device is at all times, if one is misplaced or stolen, you’ll be able to find it, lock it remotely, and even do a complete remote wipe ensuring that all valuable information remains safe and uncompromised.
If you’re thinking about integrating mPOS solutions into your retail strategy, then having an effective Mobile Device Management solution in place is imperative. Combat the security challenges faced by deploying mPOS systems by making use of Scalefusion MDM.
Resources & Links
1. Juniperresearch.com
