POS systems are no longer just for big corporations or wealthy businesses. Many businesses, both small and large are now using them. They come with many advantages that businesses don’t find with simple cash registers or payment terminals. And they’re now more affordable than they’ve ever been.
The technology involved with POS systems used to be expensive when it was new, as is common with new technology. But now as the technology continues to become more common, it also continues to become more affordable. Even the more advanced systems are more affordable now.
The affordability of POS systems is just another reason why all small business owners should be investing in them if they haven’t already. But just because they’re more affordable, it does not mean that businesses shouldn’t be careful in choosing the right one for them. As the systems become more popular, more and more options become available, so it is important for businesses to choose the system that will best fit their individual purposes.
With mobile payment processing, the only software you need is a card reader that attaches to your smartphone. This allows you to accept credit cards from any location, so it works great for businesses that travel from site to site, including market vendors. With this type of system, you pay either swipe fees only or a monthly fee plus cheaper swipe fees, and the card reader usually is given to you at no cost.
A tablet POS app is another usually inexpensive option, especially if you already own a tablet. With this system, you usually just have to pay a monthly fee or swipe fee, depending on the processing company you’re working with. Also, many apps do more than just process sales; they often include some of the basic features of complete POS systems. Cloud-based POS systems are similar to tablet POS systems in that they work through an Internet connection and charge a monthly fee or swipe fee, just like POS apps do. With this kind of system, you use your own hardware and can sign in from any web browser. And all of your information is backed up on the cloud, so you don’t have to worry about losing it if your hardware crashes.
You can also choose to use a complete POS system from a payment processing company. One option with this way is to sign a long-term contract with a company, who will then usually give you all of the hardware and technology that you need for the POS at no cost (besides shipping), while you just have to pay a monthly service fee.
Your last option is to purchase the hardware and software from a full-service company, which is the most expensive option upfront, but this option allows you to make a more custom solution, using either your current processing service or another of your choice. These systems can range from $1,500 to $5,000, depending on your needs.
The range of POS systems and their associated costs is so large that no matter what your budget is, you can still find a solution that does everything you need it to without spending more than you can afford.