Mobile technology had influenced how we handle a number of different tasks. One industry on the cusp of a major mobile overhaul is payment processing and cash registers.

In a recent report for Street Fight Magazine - a publication focusing on hyperlocal business - contributor Stephanie Miles examines a number of cloud-based POS systems that are on the market today and how it benefits small and midsize businesses (SMBs).

"Cloud-based point-of-sale systems offer a number of benefits over traditional hard-wired systems, the most important of which (to many small business owners, at least) is a reduction in costs. Whereas the costs involved in a closed legacy system can be anywhere from $3,000 to $50,000, SMBs can be up and running with a cloud-based system for less than $1,000 (and even much less in some cases)," wrote Miles.

She goes on to say that while the devices in the next generation of cash registers may seem the same, they offer several unique takes on the cloud and POS systems. From the use of digital loyalty programs, accounting tools and gift cards, these solutions are much more than just a place to swipe a credit card.

The list contains a number of solutions like Leaf to Revel to Square, that can be considered the future of the cash register. Some are tablet POS terminals that that can accept all forms of payments while others are a small peripheral and mobile application that can turn any smartphone into a portable point-of-sale location.

While many SMBs are looking into the mobile payment options, businesses in an industry can benefit from incorporating some form of portable POS system.