One of the difficulties of starting a small business or upgrading a business is choosing the right point of sale machine from all the available
POS systems. Between selecting the credit card processing company, the supplier for the credit card machines, and the POS model, the number of choices that a merchant has to make before beginning to enjoy the efficiency gains of a POS terminal can be quite daunting.
When choosing between POS systems it is important to consider the needs of your specific type of business, the primary way your employees will interact with POS machines to accept payment, how your business needs may grow and change over the next few years, and what level of investment you can afford now to enjoy efficiency gains and decreased costs in the future.
In general, there are three types of POS machines. The simplest replaces a standard cash machine with an electronic cash machine. This makes bookkeeping easier if the POS terminals are connected to a backroom server that stores inventory and income, and can be integrated with a price scanner so employees do not have to key in the price or barcode of the items sold.
The next piece is a credit and debit card payment processing point of sale. These can be mounted, wired – meaning the employee would hand the POS machine to the customer as needed to enter the PIN – and wireless. This functionality is essential for many merchants, because accepting credit cards though a POS represents a significant increase in payment processing efficiency. A credit card reader can also be connected to an internal network with a back room server to keep track of inventory and income. For most small businesses, this type of POS system is the best balance of efficiency and range of payment options vs. cost of investment difficulty of use.
The last type of POS machine is an embedded and fully integrated device that offers the biggest efficiency gains. Often using a touch screen, they allow employees to quickly enter the purchased item, accept credit, debit, and cash payments, and are ideal for time-sensitive businesses such as bars or night clubs where speed in payment processes is important.
By considering what business, customer, and employee needs these various POS systems meet, a merchant can sift through all the options with a clearer sense of purpose.