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5 Features Of POS Terminals You Should Know
If you are reading this article, either you already have a POS system for your business, but you want to upgrade, or you are looking to invest in a POS system for the first time.
In any case, there are several things you need to know before choosing a POS terminal.
– Understanding a POS System
A POS (Point of Sale) terminal is a hardware device used by retail store owners to accept card payments through software. A POS system refers to all the elements: software, hardware, and all the relevant peripherals such as barcode scanner, cash draw, card reader, etc. Traditionally, a POS terminal was a cash register used only for accepting cash and recording sales. The modern system is far more advanced and can support many different operations, including ICICI bank debit card EMI to facilitate payments and grow your business. But that will depend on the type of terminal you choose.– Types of POS Systems
There are several types of POS systems available depending on your business needs, i.e., size and type of business. In general, you can classify them into three groups:1. Mobile POS
Mobile POS refers to a mobile device such as a smartphone, touch POS machine, iPad, tablets, etc. Some advantages of Mobile POS are:- It’s portable
- It’s affordable
- Not bulky
2. Terminal POS
A terminal POS is a hardware/software-based system attached with peripherals such as cash drawers, card readers, printers, barcode scanners, etc. These systems are more advanced and can support multiple functions, including:- CRM (Customer Relationship Management)
- Reporting and Analytics
- Loyalty programs
- Inventory management and so on
- Magazine stores
- Restaurants
- Boutiques
- Grocery stores
- Electronic stores
- Salons
3. Cloud POS
Cloud POS systems are web or online-based. They are usable on hardware devices such as laptops, desktop computers, tablets, a touch POS machine, and printers. A cloud POS works like a terminal POS only that it’s installed in a data centre and managed by the POS dealer. Cloud POS systems are multi-functional, affordable, flexible, and easy to use. They are ideal for all types of businesses.– Why Use POS Terminal in Your Business
There are so many advantages of a POS machine. These include:- Boosting customer experience
- Increasing sales
- Boosting productivity
- Effective time management and more