When you’re looking for the best small business
point-of-sale (POS) system, it’s important to understand what sorts of tools
you need to help run and grow your business. A good POS system for small
business lets you process every sale securely and has the right software to
help you take care of administrative tasks more efficiently. The kinds of sales
you make and the sorts of tasks you need help with depend on your business
type.
For any small business POS system, cost (initial as well as
ongoing), security, PCI compliance, and usability should be the top factors in
choosing the best POS system. This article helps you understand what to look
for in a POS system so you can make the right decision for your business.
When do you need a POS system?
If you want to accept credit and debit card payments and
have a streamlined system for tracking sales, it’s probably a good idea to
invest in a POS system built for small business. Even very small small
businesses benefit from a good POS system. Unless you have a solid system for
recording each sale electronically, it’s hard to have an accurate understanding
of what you’re selling. Basically, the more data you have about your business,
the better able you are to make informed decisions. Plus, having a small
business POS system helps your business appear more legitimate, which is
especially important if you’re just starting out.
Things to consider when choosing the right POS system for your small business:
- Initial setup cost (time and money)
- Payment processing costs (e.g., % of sale + charge per transaction)
- Other monthly processing fees (e.g., PCI-compliance fee, chargeback fees)
- Equipment costs/rental fees
- POS software fees
- PCI compliance (i.e., how you process payments, connect your systems, and manage customers’ data securely)
- Level of mobility
- Ability to accept EMV chip cards
- Ability to accept NFC payments like Apple Pay, Android Pay, and contactless cards
- POS software features (e.g., invoices, ability to store customer data safely, inventory management.
Best POS System for Retail Store
If you own a retail store, you likely need a small business
POS system that offers inventory management and can connect to a bar code
scanner and receipt printer. Square Point of Sale, our point of sale for small
business, does all this and more. We also offer easy-to-use email marketing
software with effective templates and sample copy to let your customers know
about your sales and special promotions.
