The Best Point-of-Sale (POS) Systems

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    Technology has transformed how we do business. So much so that choosing the right point-of-sale (POS) system can be quite tricky due to the sheer number of options that are available on the market.

    While you may think that this choice is inconsequential, making use of the right system can help unlock the potential of your business and streamline your business processes. Given how important this choice is, we've put together a list of our picks of the best point-of-sale systems for your business.

    A List of the Best Point-of-Sale Systems

    Different POS systems come with their own pros and cons, and some systems may be better suited for small businesses, while others are better for bigger businesses. This is why we've compiled a list of recommendations that breakdown the various features of the best systems available for retail stores today.

    1.) Square POS

    • Free outside of the transaction fees
    • Turn any device into a card reader
    • Versatile and easy-to-use

    Square's POS solutions are one of the most versatile options on the market, as retail shops may opt to use them in different ways. For one, a Square point-of-sale system can be installed on a phone or an iPad.

    Indeed, any phone can be turned into a card reader that can process debit and credit card payments. This is quite useful for any business owner who doesn't want to spend on hardware, as they can turn gadgets they may already have, such as an iPad, into a full-blown payment system.

    Another feature that users may find appealing about Square is its pricing. Unlike other options below, Square doesn't charge a fee per month. Instead, they charge transaction fees. This can be quite beneficial for a small business that's looking for POS hardware and software with flexible pricing.

    However, the pricing can be problematic for large-scale operations as it may eat into their overall profits. Square may not be the best choice for stores that prefer a per-month fee for their POS software and hardware.

    2.) Vend

    • Cloud-based POS solution
    • In-depth sales analytics
    • Comprehensive management tools

    What makes Vend different from other systems is that it is exclusively a cloud-based point of sales system. This means that no POS hardware has to be installed to start using Vend.

    This makes it a great system for small business owners due to its easy use and installation. The POS system also comes with inventory, customer, and accounting management features.

    One downside to it would be the lack of payment processing. This means that small businesses that opt to use it would need to utilize third-party solutions to handle credit card processing or card payments. If you need more information on this, we've got useful resources on credit card processors for businesses.

    3.) Shopify POS

    • Seamless e-commerce integration
    • 24/7 customer service support
    • Mobile app accessibility

    While Shopify is mostly known as an e-commerce platform, it also caters to businesses with a brick-and-mortar store via Shopify POS.

    This POS system is the best option for online businesses that also have physical stores. It comes with POS features such as employee, customer, and inventory management.

    It is also designed with convenience in mind. Any Shopify user can access all of these features on the go via the mobile POS app, which can be installed on most smartphones and tablets.

    When it comes to pros and cons, one significant drawback to using Shopify is that it will charge a transaction fee—unless you make use of Shopify's payment processing system.

    4.) Lightspeed Retail POS

    • Compatible with different platforms
    • Specializes in inventory management
    • Software as a service

    While it isn't as popular as the other retail POS options, the Lightspeed Retail POS may just be the best one when it comes to inventory features.

    This is especially true if a store has various retail locations, as it can track inventory across all the different stores. This feature gives it a significant advantage over other retail POS systems.

    Similar to Square, Lightspeed can also be installed on just about any device. This means any smartphone and iPad can be turned into the perfect POS system for small businesses.

    Frequently Asked Questions

    What is a POS system?

    A POS system is the part of your store where transactions are processed and completed. Normally this would be the cash register but some modern companies can make use of an iPad POS.

    Why does my business need a POS system?

    Point-of-sale software and hardware make transactions easier for both the business and the customer. Streamlining this process can help a business maximize profits.

    What makes a good POS system?

    Different options have varying pros and cons. This will depend on the nature of a business. Some systems specialize in inventory management, while others excel when it comes to customer management. A good rule of thumb would be to pick one that is easy to use and whose features match the needs of your business.

    What are the best POS systems?

    Again, this will depend on the needs of your business. For more general picks, our recommendations would be Shopify and Square.

    Shopify is one of the best options when it comes to e-Commerce integration. Square is a good option due to its versatility and affordable pricing.

    What is the cheapest POS system?

    Square is the cheapest due to the absence of any monthly fees.

    However, recommendations may differ depending on the number of sales your business processes as you may be better of going with a POS solution that charges you per month.

    What are the different types of POS systems?

    The different type of systems depends on the medium wherein the transaction is processed. There are different hardware options for this. For the most part, terminals, phones, and tablets are the most common.

    We hope that this helped you understand the slew of different options when it comes to the different point of sales solutions out on the market. If you're interested in learning more about payment solutions check out Processing Card today!

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