Find the best POS providers to manage transactions, track inventory, and consolidate accounting information. Compare quotes for free.
| Full Service Dining | Quick Service Dining | Retail | Professional Services | |
| Monthly Price | $123 | $123 | $123 | $123 |
| Transaction fee Credit Card | 2.3% + 10¢ | 2.3% + 10¢ | 2.3% + 10¢ | 2.3% + 10¢ |
| Cardless Transaction Fee | 3.5% + 10¢ | 3.5% + 10¢ | 3.5% + 10¢ | 3.5% + 10¢ |
| Order Management | ||||
| Product Management | ||||
| Multichannel Features | ||||
| Permission & Role Assignment | ||||
| Inventory Management | ||||
| In-Store Analytics |
A POS (Point of Sale system) is the hardware and software that businesses use to process sales transactions, manage customer orders, and keep track of inventory. It's essentially where a customer makes a payment for products or services, and the business records the sale.
Components of a POS System:
Terminal
A computer or tablet where the transaction is processed.
Card Reader
For processing credit and debit card payments.
Receipt Printer
To print out receipts for customers.
Barcode Scanner
For scanning product barcodes, speeding up the checkout process.
Cash Drawer
Where cash payments are stored.
Transaction Processing
To handle sales, refunds, and exchanges.
Inventory Management
To track stock levels and update inventory as items are sold.
Customer Relationship Management (CRM)
To store customer information, purchase history, and loyalty programs.
Reporting
To generate sales reports, track performance, and analyze customer behavior.
Employee Management
To track staff sales, shifts, and manage user permissions.
1. Traditional/Legacy POS
These are usually on-premise systems that require specific hardware like a desktop terminal and are often used by large businesses or restaurants.
2. Cloud-based POS
These systems can be accessed from any device with internet connectivity, such as tablets or smartphones. They offer more flexibility and are popular with small businesses, retail stores, and cafes.
Efficiency
Speeds up transactions and reduces errors.
Data Tracking
Provides insights into sales trends and inventory levels.
Customer Experience
Streamlines the checkout process and supports loyalty programs.
Security
Secures payment information, especially with EMV (chip) card technology.
POS systems are used in a wide variety of businesses, including retail stores, restaurants, cafes, and service-based industries.
POS systems come with various pricing structures depending on the provider, the size of the business, and the specific needs (such as hardware and features). Here are the common pricing structures for POS systems:
Pros: Predictable cost, scalable with your business.
Cons: If your business scales up or you need more features, costs can rise.
Example:
Pros: Flexibility to choose based on business needs.
Cons: You might have to upgrade to higher tiers for features that are essential as your business grows
Pros: No upfront costs, ideal for small businesses or startups.
Cons: Over time, transaction fees can add up, making it more expensive than subscription-based models for high-volume businesses.
Pros: Tailored to specific needs, often includes premium support.
Cons: Usually more expensive, contracts may be long-term.
Some POS systems may require you to purchase hardware like tablets, card readers, barcode scanners, and receipt printers, which are often priced separately.
Example Hardware Costs
Pros: Buy only what you need.
Cons: Upfront hardware costs can be significant.
Examples:
Pros: Integrated processing is convenient.
Cons: Fees can vary based on payment type and provider.
Pros: No recurring software fees after the initial purchase.
Cons: High upfront cost and may require ongoing maintenance fees.
Top 10 POS matches your business with the best point of sale services saving you the time and money you need to keep growing.
| Hardware | Cost | Features |
| Clover Go | $49 | Mobile attachment for Android and iOS Paperless receipts |
| Clover Mini | Starts at $799 or $45 per month for retail & services and $100 per month for restaurants & foodservice | Compact countertop POS system Accepts chip, swipe and contactless payments Also available for full-service restaurants and retail businesses |
| Clover Flex | $599 | Handheld POS Paper and paperless receipts Tracks sales transactions |
| Clover Station Solo | $1,699 or $125 per month for retail & services and $160 per month for full service dining | Full countertop POS Sales tracking Report generation for business insights Manage inventory |
| Clover Station Duo | $1,799 or $135 per month for retail & services and $140 per month for full service dining | Second screen for customers Accept swipe, dip, tap, QR code and keyed-in payments Restaurants and retail outlets |
Gregory Medici 11:46 AM Lightspeed is a cost effective option for retailers that pairs well with their ecommerce solution on their Core or Plus plan. This is a good match for small businesses that have a more organized and established inventory with multiple locations. For newer businesses without an ecommerce setup will also have good success with their basic plan. Overall Lightspeed works well for retailers who require a more complex solution and a good starting plan for brick & mortar businesses.
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