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.
Table of Contents
– 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:
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
Inventory management and so on
Some of the places you can find them are:
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
Effective time management and more
5 Features to Look for in a POS Terminal
If you are planning to activate ICICI bank debit card EMI or any other payments in your business, here are five features of POS terminals you must look out for:
1. Ease of Use
How easy is it to navigate through the POS system software? Does it require any form of training? How fast is it? These and many more are some of the questions you need to ask yourself before buying a POS terminal. You want to invest in something that’s fast, easy to use and requires minimal or no training. That way, you can save time and energy to focus more on productivity.
2. Multiple Payment Options
There are many ways to accept payments from customers, including ICICI bank debit card EMI, QR codes, and eWallets. Customers prefer stores that allow them to use their favourite payment methods, so make sure you buy a POS terminal that can support multiple options to accommodate them. By doing so, you will attract more customers to your business, leading to more sales hence more profit.
3. Employee Management
Employee management is one of the trickiest yet essential aspects of running a business, especially when it comes to performance. It affects sales, customer experience, profits, productivity, and time management, among other things. The employee management feature of your POS system allows you to keep track of all the employee activities and ensure that everything is going on well as it should.
4. Inventory Management
One way to enhance the user experience in your business is by ensuring that customers get what they want when they want it. The inventory management feature allows you to monitor your sales and stock levels for each product so that you never run out of supplies in your store.
5. Customer Care and Support
Just like all other systems, mobile swipe machine do fail. That can cost money and time on your business. To minimize the losses and maximize the advantages of POS machine for your business, consider buying a system with good customer care available to you 24/7.