The accuracy of the visual positioning system directly impacts the production efficiency of Mini/Micro LED display panels. This paper aims to enhance the precision of the mass transfer visual positioning system to meet the increasing demands of industrial production. Firstly, we conducted an error analysis of the mass transfer visual positioning system to understand the impact of different error sources on positioning accuracy. Subsequently, based on the results of the error analysis, we proposed an error compensation method that utilizes a high-precision motion positioning platform and laser displacement sensor to calculate the pose of the camera. Additionally, we introduced a Kalman filter with a forgetting factor to iteratively optimize the subsequent calculation of camera pose parameters. Ultimately, through simulation experiments and transfer experiments, we demonstrated that our proposed method can effectively enhance the accuracy of the visual positioning system for mass transfer devices while maintaining high robustness.