myPOS is potentially attractive with all its software features, online account and flashy smart POS terminals, but we remain a bit sceptical of its value for British businesses.
The company hasn’t quite taken off in the UK, which could be due to its multi-national status, heavy focus on using the online account (many prefer bank account payouts), hidden fees and unsettling amount of complaints about withheld funds. There are other smart POS terminals in the UK with smoother sign-ups (e.g. Square) and fewer pay-as-you-go fees.
That being said, myPOS Smart N5 is not a bad deal for delivery couriers, taxi drivers, small shops, professional services, hotels and hospitality workers requiring a mobile checkout terminal that works anywhere within the EEA.
Smart POS terminals and online business accounts with a debit card are both growing in popularity, and more than ever, businesses need options for remote payments. The whole myPOS package comes with it all – just beware of the fees and possible downsides before signing up.