20 Best POS Systems To Effectively Manage Cash Flows In 2024
10 Best POS Systems Shortlist
Here’s my pick of the 10 best software from the 20 tools reviewed.
Ever heard someone say "don't celebrate until the ink is dry"?
I have, and for good reason. I can't count the amount of times I've thought a sale is done, just for something unexpected to pop up at the last minute and kill the deal.
Call me spiteful if you want, but I decided to channel it positively — I dedicated an embarrassingly large amount of time to seeking out potential deal-stoppers and terminating them.
On my list? Point of sale systems. I started by just looking for the most reliable systems for getting money in the door, but my research showed me just how much more they can do.
From updating inventory systems in real-time to generating financial reports and optimizing reordering, the best POS systems go beyond the transaction.
Here are the most useful POS systems I've found, why I picked them, and interesting points about each one.
Why Trust Our POS System Reviews
Now, you may be asking yourself: Who is this shmuck and why should I trust him? Don't worry, I get it.
My team and I have been testing and reviewing POS systems since 2023. As experienced financial operators ourselves, we know how critical and difficult it is to make the right decision when selecting software.
We invest in deep research to help our audience make better software purchasing decisions. We’ve tested more than 2,000 tools for different finance use cases and written over 1,000 comprehensive software reviews. Learn how we stay transparent & our POS system review methodology.
Quick POS System Comparison Chart
Before we get into the thick of it, I wanted to give you a quick overview of the tools I've covered, how much they cost, and links to go check them out for yourself.
If you want my take on each of them, keep reading.
| Tools | Price | |
|---|---|---|
| KORONA POS | Pricing upon request | Website |
| Stax Pay | From $99/month | Website |
| Shopify POS | Plans start at $31/month | Website |
| Payment Depot | From $79/month | Website |
| Lavu | From $59/month + payment processing | Website |
| ePOS | Pricing upon request | Website |
| Helcim | From 0.50% + $0.25 per transaction | Website |
| Merchant One | From $13.95 plus 0.29% + 1.55% per transaction | Website |
| Clover | From 2.3% + $0.1 per transaction | Website |
| Lightspeed | From $99 per month | Website |
Compare Software Specs Side by Side
Use our comparison chart to review and evaluate software specs side-by-side.
Compare SoftwareHow to Choose a POS System
As you're shortlisting, trialing, and selecting your POS system, consider the following:
- What problem you're trying to solve - Start by identifying the functional organizational gaps you're trying to fill, to clarify the features and functionality the POS system needs to provide.
- Who will need to use it - To evaluate cost and requirements, consider who'll be using the software and how many licenses you'll need. You'll need to evaluate if it'll just be the sales team, or the whole organization that will require access. When that's clear, it's worth considering if you're prioritizing ease of use for all, or speed for your frontline power users.
- What other tools it needs to work with - Clarify what tools you're replacing, what tools are staying, and the tools you'll need to integrate with, such as accounting, CRM or HR software. You'll need to decide if the tools will need to integrate together, or alternatively, if you can replace multiple tools with one consolidated POS system.
- What outcomes are important - Consider the result that the tool needs to deliver to be considered a success.
- Consider what capability you want to gain, or what you want to improve, and how you will be measuring success. For example, your target outcome could be faster transactions or better sales tracking.
- You could compare POS features until you’re blue in the face but if you aren’t thinking about the outcomes you want to drive, you could be wasting a lot of valuable time.
- How it would work within your organization - Consider the software selection alongside your workflows and delivery methodology. Evaluate what's working well, and the areas that are causing issues that need to be addressed. Remember every business is different — don’t assume that a tool will work in your organization just because it's popular.
10 Best POS Systems
Here’s my list of the top 10 POS systems for 2024.
I’ve summarized the main selling points of each tool and covered their features and supported integrations, to make sure your tech stack can support the POS system.
In case you’re more of a scanner than a reader, I’ve made a quick pros & cons list as well.
KORONA POS is a cloud-based point-of-sale system designed for small to medium-sized businesses, including retail stores, restaurants, and niche markets like wineries and amusement parks. It offers a range of features like advanced inventory management, customer relationship management (CRM), and ecommerce integration.
Why I picked KORONA POS: I particularly like its advanced inventory management capabilities. It offers real-time tracking, automated reordering, and detailed reporting, ensuring businesses maintain optimal stock levels and reduce waste. The system's ability to handle complex inventory tasks, such as managing multiple locations and variations of products, provides a seamless and efficient operation for retailers.
KORONA POS Standout Features and Integrations:
Standout features include self-checkout kiosks, ticketing services, employee management, customizable user permissions, automated purchase orders, stock alerts, multi-store management, promotional tools, CRM features, offline mode, and secure data encryption.
Integrations include QuickBooks, WooCommerce, Shopify, Magento, BigCommerce, Mailchimp, and various payment processors such as PayPal, Stripe, Worldpay, Authorize.Net, and CardConnect.
Pros and cons
Pros:
- Detailed inventory management features
- The software layout can be customized
- Supports multiple locations
Cons:
- Reports could be more customizable
- Each terminal requires a separate payment
Stax Pay is a powerful point-of-sale (POS) system designed specifically for B2B sellers. It offers a range of features and integrations to streamline payment processing and enhance business operations.
Why I Picked Stax Pay: Stax Pay stands out for B2B sellers due to its tailored solutions that address the unique needs of business-to-business transactions. It offers flexible payment options, advanced invoicing capabilities, and seamless integration with accounting software, making it easier for businesses to manage large volumes of transactions and complex payment terms. Additionally, its robust reporting and analytics tools provide valuable insights into sales performance, helping businesses make informed decisions and optimize their operations.
Stax Pay Standout Features and Integrations
Key features include flexible payment options (credit card, ACH, and eCheck), advanced invoicing, recurring billing, and customizable payment plans. The platform also provides detailed reporting and analytics, integrated fraud prevention, and a user-friendly dashboard for managing transactions. With its robust API, businesses can easily integrate Stax Pay into their existing systems and workflows, ensuring a seamless payment experience for both the business and its customers.
Integrations include popular accounting software like QuickBooks and Xero, customer relationship management (CRM) systems such as Salesforce and HubSpot, and ecommerce platforms like Shopify and WooCommerce. Additionally, Stax Pay connects with payment gateways like Authorize.net and Stripe, as well as marketing tools like Mailchimp and Constant Contact.
Pros and cons
Pros:
- Seamless integration with popular tools
- Advanced invoicing capabilities
- Flexible payment options
Cons:
- Slight learning curve for new users
- Limited support for international transactions
Shopify is an e-commerce platform with more than 20,000 online stores. It allows individuals and businesses to build digital storefronts and catalogs, manage and process orders, and collect payments. While the company is best known for online shopping, its POS system can also process in-person transactions.
Why I picked Shopify POS: For entrepreneurs and small businesses, building a Shopify store is a way to start earning revenue without the expense of a brick-and-mortar storefront. When those businesses want to expand to pop-up stores or permanent locations, the Shopify POS is an easy way to make the transition.
Shopify POS Standout Features and Integrations:
Standout features include a customizable POS home page, where you can keep your most-used modules at the forefront. Shopify also touts its advanced inventory management and precise staff permissions feature.
Integrations include Mailchimp, Zapier, Hubspot, Buffer, Quickbooks, Xero, ShipStation, Etsy, SKU IQ, ShipHero, and Klaviyo.
Pros and cons
Pros:
- Order management tools
- Mobile transactions
- Online store builder
Cons:
- Limited hardware
- Designed for e-commerce
Payment Depot is a POS and merchant services provider that offers a transparent interchange+ pricing model. This helps businesses of all sizes save on transaction fees. The company's clear, straightforward pricing structure helps you avoid hidden costs, thereby better managing your cash flow.
Why I Picked Payment Depot: This platform's subscription-based pricing makes it a compelling choice for high-volume businesses. It offers a POS system for ecommerce, mobile, and physical payment terminals, making it flexible to various industries and business models. Whether you're a retail, service, restaurant or bar, or healthcare company, you'll be able to leverage their offering to better manage your cash flow and payment processing.
Payment Depot Standout Features and Integrations
Standout features include a free payment gateway, as well as the tool's virtual terminal capabilities provided through partnerships like SwipeSimple. This allows merchants to process payments online, via mobile, and over the phone without incurring additional gateway fees. The software is also compatible with POS systems like clover and vital select, and offers a user-friendly interface.
Integrations include Shopify, WooCommerce, BigCommerce, PrestaShop, and OpenCart. It also integrates with payment systems such as authorize.net and business management systems like Revel Systems.
Pros and cons
Pros:
- Comprehensive equipment offerings
- Cost-effective for businesses with high transaction volumes
- User interface is straightforward and intuitive
Cons:
- Limited to US-based, non-high-risk merchants
- Not ideal for low-volume businesses
Lavu promotes itself as a restaurant POS system made by restaurant people. Along with the POS, Lavu also sells MenuDrive (a marketing and online ordering tool) and Sourcery (an invoice and bill-pay tool).
Why I picked Lavu: With their open API and menu of add-on features, Lavu allows you to build the POS system you need and customize it to fit your business.
Lavu Standout Features and Integrations:
Standout features include team management and inventory management, along with real-time reporting. While Lavu can process mobile wallets like Apple Pay, it also has a cash discount program designed to reduce the fees you pay for processing debit and credit cards.
Integrations include 7shifts, Bento Box, Quickbooks, Restaurant365, Yelp, WISK.ai, TableUp, TipHaus, Paychex, Open Table, and Doordash.
Pros and cons
Pros:
- Barcode scanning
- Inventory management
- Highly customizable
Cons:
- No free option
- Contract required
Epos Now is a POS and business management software designed to meet the needs of modern retail and hospitality businesses. It offers a comprehensive suite of tools that helps manage sales, inventory, customer relationships, and employee performance. The platform is user-friendly, scalable, and customizable.
Why I Picked Epos Now: The platform excels in delivering real-time inventory management, detailed sales analytics, and comprehensive customer relationship management (CRM) tools. For me, one of its standout features is its range of hardware bundles that include everything a business needs to get started, from touchscreen terminals to receipt printers and barcode scanners. These hardware solutions are seamlessly integrated with the software, ensuring a cohesive user experience.
Epos Now Standout Features and Integrations
Standout features include advanced reporting and analytics tools that provide deep insights into sales trends, customer behavior, and inventory levels. Additionally, the employee management module helps businesses optimize their workforce by simplifying scheduling, tracking hours worked, and monitoring performance. Another significant feature is the real-time data synchronization across multiple locations.
Integrations include Workforce.com, APO, Worldpay, BigCommerce, Magento, Deputy, Deliveroo, Mr Yum, Hopt, QuickBooks, Xero, Mailchimp, Shopify, Appointedd, simpleERB, WooCommerce, PayPal, Stripe, Sage, Zapier, Google Analytics, and more.
Pros and cons
Pros:
- Tailored features for retail and hospitality businesses
- Reporting on multiple metrics
- Interface is easy to navigate
Cons:
- Occasional system lag
- May take time to set up
Helcim is a POS system and payment processing platform that emphasizes fee and rate transparency. They use an “interchange +” model. Interchange is the 1-3% that businesses have to pay to banks to move funds. This empowers businesses to choose the best payment processing rate they can find, to which Helcim makes only a small addition.
Why I picked Helcim: Along with their lack of setup and cancellation fees, Helcim’s pricing structure rewards you for selling more. That means that when you sell more products, you keep more and more of the profits. For high-volume businesses, the savings add up.
Helcim Standout Features and Integrations:
Standout features include the ability to process partial payments or deposits, as well as automatically create customer profiles that you can edit and add notes to. You can send invoices and email customers for continued engagement.
Integrations include Quickbooks, Foxy.io, WooCommerce, Magento, and Great Exposure. While pre-built integrations are few, Helcim does offer an API for customization.
Pros and cons
Pros:
- Mobile app
- Virtual terminals
- User permissions
Cons:
- Very few integrations
- Requires 3rd party hardware
Merchant One is a financial service provider that offers a suite of tools for businesses to process electronic payments. They provide a variety of point-of-sale (POS) systems, mobile payment solutions, and online payment gateways to accommodate different business models and transaction environments.
Why I picked Merchant One: The POS systems offered by Merchant One come with features such as inventory management, sales reporting, and customer relationship management tools. These systems are intended to help businesses conduct sales transactions efficiently while providing insights into sales data and inventory levels.
Merchant One Standout Features and Integrations:
Standout features include support for a wide range of payment methods, including credit and debit cards, electronic checks, and mobile payments. Merchant One also offers encryption technology, tokenization, and compliance with Payment Card Industry Data Security Standard (PCI DSS) requirements to protect sensitive customer data.
Integrations include Clover Network, Inc., First Data Corporation, USAePay, Paytrace Gateway, Payeezy Gateway, Authorize.net, Aloha, Micros, Payflow Pro, and Maitre'D.
Pros and cons
Pros:
- Various hardware options
- 24/7 customer support
- Fast and easy setup
Cons:
- Occasional slow deposit times
- Includes an early termination fee
Launched in 2012, Clover is a cloud-based point-of-sale system and hardware collection which can be purchased directly or through a number of resellers. Along with credit and debit cards, Clover supports Apple Pay and Google Pay.
Why I picked Clover: Clover combines three important parts of business operations (point-of-sale, payment processing, and hardware) into one attractive system.
Clover Standout Features and Integrations:
Standout features include both virtual terminals and a wide range of hardware options. Clover also offers real-time reporting and sales analytics, which you can access anywhere from the Clover Go mobile app.
Integrations include Time Clock by Homebase, Thrive Inventory, BigCommerce, stockIt, Easy Labels, Magento, Yelp, and Paychex.
Pros and cons
Pros:
- Highly customizable
- Customer loyalty program
- Rapid deposits
Cons:
- Poor customer service reviews
- Complex pricing
Lightspeed is a commerce platform and POS system with solutions for retail stores, restaurants, and golf courses. It also offers robust inventory management features, including multi-location tracking and stock purchasing within Lightspeed.
Why I picked Lightspeed: Like restaurants, the digital transformation of retail stores has accelerated since the COVID-19 pandemic. Lightspeed allows retailers to sell in their stores and across numerous online channels, all while maintaining centralized inventory and sales data.
Lightspeed Standout Features and Integrations:
Standout features include the ability to manage multiple channels and stores (not to mention suppliers) from one platform. You can use Lightspeed to sell on Facebook, Instagram, Amazon, Walmart, and eBay.
Integrations include MailChimp, Kangaroo Rewards, Homebase, Podium, RetailNext, SKU IQ, Ticket-IT, and Swiftcount.
Pros and cons
Pros:
- Extensive documentation and help content
- Multi-location inventory management
- Customizable reports
Cons:
- Unclear hardware pricing
- No free option
Other POS System Options
Along with my recommendations above, here are a few more POS options that are worth considering:
Related Financial Software
If you still haven't found what you're looking for here, check out these other closely related tools that we've tested:
- Accounting Software
- ERP Software
- Billing Software
- Credit Card Processing Companies
- Merchant Account Services
- Inventory Management Software
Selection Criteria For POS Systems
When selecting a POS system, the first thing I look at is functionality — how well does the system get the job done? Perhaps even more importantly, how much easier does it make users' lives in the process?
My team and I have personally tried and researched these tools, and established a set of criteria to guide this selection process. Here's what we look at:
Core POS System Functionality - 25% of total weighting score
Common features for POS systems typically include sales processing, inventory management, customer data capture, reporting and analytics, integrated payment processing, real-time data synchronization, user-friendly interfaces, mobile capabilities, security measures, and cloud-based access.
To be considered for inclusion on my list of the best POS systems, the solution had to support the ability to fulfill common use cases:
- Process sales transactions efficiently
- Manage inventory in real-time
- Capture and store customer information
- Generate detailed sales and financial reports
- Handle multiple payment methods securely
Additional Standout Features - 25% of total weighting score:
- Real-time data synchronization across multiple locations and devices
- Advanced analytics and reporting capabilities for in-depth business insights
- Integration with CRM and ERP systems for streamlined operations
- Mobile POS capabilities for flexibility and enhanced customer experience
- Innovative security features to protect sensitive data
Usability - 10% of total weighting score:
- Intuitive, easy-to-navigate interface
- Minimal training required for staff
- Responsive and reliable system performance
- Clean, aesthetically pleasing design
- Customizable dashboards and reports
Onboarding - 10% of total weighting score:
- Availability of comprehensive training resources, such as videos, webinars, and interactive product tours
- Easy data migration from previous systems
- Step-by-step setup guides and templates
- Accessible customer support during the onboarding process
- Ongoing educational resources for continued learning
Customer Support - 10% of total weighting score:
- 24/7 availability of customer support
- Multiple support channels, including phone, email, and live chat
- Responsive and knowledgeable support team
- Availability of a detailed knowledge base and FAQs
- Regular updates and maintenance support
Value For Money - 10% of total weighting score:
- Competitive pricing compared to other POS systems
- Transparent pricing structure with no hidden fees
- Flexible pricing plans to suit different business sizes and needs
- Comprehensive feature set relative to cost
- Positive ROI through improved sales processes and efficiency
Customer Reviews - 10% of total weighting score:
- Consistent positive feedback from a wide range of users
- High ratings for functionality, ease of use, and customer support
- Detailed reviews highlighting specific strengths and features
- Testimonials from businesses similar to the target audience
- Reports of successful implementation and tangible benefits
POS System Trends for 2024
Tech-focused businesses process a huge amount of transactions, and POS system vendors have spent 2024 responding to their needs.
Reviewing the latest product updates, press releases, and release logs from leading POS system (and related sales enablement technology) suppliers reveals a number of key trends, including:
Integration and Interconnectivity
- Unified Commerce Solutions: There is a growing trend toward integrating POS systems with e-commerce platforms and ERP solutions. This unification allows businesses to manage online and offline sales seamlessly, ensuring data consistency and improving overall efficiency.
- API-First Approaches: More POS systems are adopting API-first designs, enabling easier integration with third-party applications and custom software. This approach enhances flexibility and allows businesses to tailor their POS systems to specific needs.
Advanced Data and Analytics
- Real-Time Analytics: Many POS systems are now offering real-time analytics capabilities, allowing businesses to make immediate, data-driven decisions. This feature helps in optimizing inventory, adjusting pricing strategies, and enhancing customer engagement.
- Predictive Analytics: The inclusion of predictive analytics tools is on the rise, enabling businesses to forecast sales trends, customer behavior, and inventory needs with greater accuracy.
Enhanced Payment Processing
- Support for Multiple Payment Methods: POS systems are expanding their payment processing capabilities to include various digital payment methods, such as mobile wallets, cryptocurrencies, and contactless payments, ensuring a smooth and secure checkout experience.
- Integrated Payment Security: Enhanced security features, including tokenization and encryption, are becoming standard, protecting sensitive payment information and complying with industry regulations.
User Experience and Accessibility
- Intuitive User Interfaces: The focus on developing more intuitive and user-friendly interfaces is evident, reducing training time and minimizing errors during transactions.
- Mobile POS Solutions: Mobile POS capabilities are increasingly popular, providing flexibility for businesses to conduct sales anywhere, improving customer service and operational efficiency.
Customer Relationship Management
- Integrated CRM Features: POS systems with built-in CRM functionalities are becoming more common, enabling businesses to capture customer data, track purchase histories, and personalize marketing efforts effectively.
- Loyalty Program Integration: Seamless integration of loyalty programs within POS systems is enhancing customer retention and engagement, providing a competitive edge.
Emerging Technologies
- AI and Machine Learning: The integration of AI and machine learning in POS systems is facilitating smarter inventory management, customer insights, and automated processes, leading to improved efficiency and decision-making.
- Voice Recognition: Some POS systems are starting to incorporate voice recognition technology, streamlining operations and enhancing user convenience.
Trends Showing Decline
- Standalone POS Systems: The demand for standalone POS systems is decreasing as businesses prefer integrated solutions that offer comprehensive functionalities.
- Traditional Payment Methods: Traditional payment methods like cash and checks are going the way of the dinosaurs, with digital and contactless payments being front and center.
The biggest overarching trend? POS systems are looking to become the center of your sales tech stack; not just a part of it anymore.
What is a POS system?
If you've gotten this far without knowing what a POS system is:
- I'm shocked
- I'm weirdly impressed?
A POS system, or Point of Sale system, is a combination of hardware and software used by businesses to complete sales transactions. It typically includes a terminal (computer or tablet), receipt printer, barcode scanner, and POS software to facilitate various functions related to sales and payment processing.
Key Features of POS Systems
Choosing the right POS system is crucial for optimizing the sales process in any business, especially when you consider the sheer number of digital-first competitors coming for your lunch money.
Here are the most important features to look for in POS systems:
- Real-Time Data Synchronization: Ensures that all sales and inventory data are updated instantly across all channels, preventing discrepancies and enabling informed decision-making.
- Integrated Payment Processing: Supports multiple payment methods, including credit cards, mobile payments, and digital wallets, providing a rapid, secure checkout experience for customers.
- Inventory Management: Tracks stock levels in real-time and automates reorder processes, reducing the risk of stockouts or overstock situations and improving cash flow management.
- Customer Relationship Management (CRM): Captures and stores customer data, enabling personalized marketing and loyalty programs that enhance customer retention and repeat business.
- Analytics and Reporting: Generates detailed sales reports and analytics, allowing businesses to track performance metrics, identify trends, and make data-driven decisions to optimize sales strategies.
- Cloud-Based Access: Offers remote access to the POS system from any location, facilitating multi-location management and ensuring business continuity in case of on-site hardware failures.
- User-Friendly Interface: Provides an intuitive and easy-to-navigate interface, reducing training time for staff and minimizing errors during the sales process.
- Mobile POS Capabilities: Enables sales transactions to be processed from mobile devices, enhancing flexibility and allowing for a more personalized shopping experience for customers.
- Integration with Other Business Systems: Seamlessly integrates with ERP, accounting, and e-commerce platforms, ensuring a unified and efficient business operation.
- Security Features: Includes advanced security measures such as encryption and PCI compliance, protecting sensitive customer and business data from cyber threats.
When selecting a POS system, it's important to focus on features that directly contribute to optimizing the sales process — while a fancy back-end dashboard is nice, your money should favor systems that can make a meaningful impact on your customer experience.
Benefits of POS Systems
Finding the right POS system can do more than recover the sales you're currently missing out on. Here are five primary benefits of good POS systems, from my research and experience:
- Enhanced Data Accuracy: Ensures precise recording of sales and inventory data, reducing errors and enabling reliable financial reporting and inventory management.
- Streamlined Operations: Automates various sales and inventory tasks, freeing up staff to focus on more strategic activities and improving overall operational efficiency.
- Improved Customer Experience: Provides quick and seamless transactions, supports multiple payment methods, and integrates loyalty programs, enhancing customer satisfaction and retention.
- Real-Time Reporting: Offers immediate access to sales and inventory data, allowing for timely decision-making and better insights into business performance.
- Integrated Systems: Connects with other business systems like ERP and CRM, ensuring a unified approach to managing operations and improving data flow across the organization.
Alone, they're useful. Together, they're transformative — you should be looking for a system that can do all of these things for you because I promise you, it's out there.
Costs & Pricing for POS Systems
| Plan Type | Average Price (/location/month) | Common Features | Best Suited For |
|---|---|---|---|
| Free | Remember when I said free? | Basic sales processing Limited inventory management Customer data capture Basic reporting and analytics Limited payment processing methods | Small startups or very small businesses with basic needs |
| Basic | $29 | Expanded inventory management Basic CRM features Multi-channel sales capabilities Support for more payment methods | Small businesses looking to expand operations |
| Standard | $79 | Advanced reporting and analytics Real-time data synchronization Mobile POS capabilities Enhanced security features | Growing businesses requiring more robust features and analytics |
| Premium | $149 | Advanced CRM and loyalty program integration Predictive analytics Custom reporting Priority customer support | Established businesses needing advanced features and support |
| Enterprise | Custom pricing | Multi-location management API access and integrations Dedicated account manager Custom solutions and support | Large enterprises with complex needs and multiple locations |
Point of Sale System Frequently Asked Questions
Still have questions about POS systems? Here are answers to some of the most frequently asked questions.
What businesses need a POS system?
Nearly all restaurants and retail businesses need a point-of-sale system to quickly and easily ring up orders, both in-person and online. It’s not uncommon, however, for service-based businesses (plumbers, painters, etc.) or entertainment or events-based businesses (movie theaters, amusement parks) to also use a POS system.
How much does a POS system cost?
Point-of-sale systems come in a wide range of price points, beginning with free plans. If you use your own device and a free POS system, transaction and payment processing fees would be the only cost. Many POS systems, however, charge a monthly fee, which can range from $15 to hundreds of dollars. You also have to consider the cost of POS system terminals and hardware. Some systems offer a free terminal, but hardware can also run into the thousands of dollars.
What hardware do POS systems need?
The hardware you need depends on the size and operations of your business. It’s possible to use some POS systems through your computer or mobile device. This is often called a “virtual terminal.” Many businesses, however, will need at least one POS terminal that allows employees to ring up orders and collect payment.
Is a POS the same as a payment processor?
Some POS systems include a payment processor, but they are two distinct technologies. A payment processor enables the transfer of funds from the customer to a business. If you simply key in a transaction amount, a processor can be used without a POS system. To quickly ring up purchases, send orders to a kitchen, or scan barcodes, you will need a POS system. While some POS systems require you to use their default payment processor, others allow you to choose your own.
Point of Sale, On Point.
Your POS system has a huge impact on both your customer and employee experience. I wish it were as simple as pointing at a single best system, but their different features and pricing structures make it impossible to declare a single winner. I’ve narrowed down the field, and now you can use these summaries to find the right POS system for your business.
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