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.