POS Machine – Know Its Types And Benefits For Businesses

Posted by : Admin / On : 05-04-2022 /

In general, a POS stands for Point Of Sale or point-of-sale, which is a part or terminal for the checkout process for e-commerce sites or physical retail stores.

It facilitates billing and accepting payments through several modes such as debit/credit cards to finalise the transaction. Usually, it is a whole terminal with a display monitor, scanner, printing unit, and cash register. In today’s world, you can come across a POS machine as small as your smartphone. 

Types of a point-of-sale machine

Maximum POS machines use a wired, wireless, or telephone line connection to complete a transaction. Now, POS systems with SIM card operations are available. Based on the methods, you can distinguish point of sale systems as:

•    GPRS POS – It is the POS machine that uses a SIM card for data transmission. 
•    PSTN POS – Such a point-of-sale system uses a standard telephone line i.e., a public switched telephone network. 
•    Ethernet POS – As per its name, it uses ethernet IP and has external hardware tools such as printers and scanners.  
•    Mobile POS or MPOS – It relates to a software tool that a provider allows you to install on your smartphone and transfer or accept the payment. The used technologies are Bluetooth, NFC, etc. 

Common features of a POS system 

Buying and installing a POS machine is highly beneficial. Before you buy one, you should know about its features. Here are some common features for your reference:

•    Onsite or cloud-based systems
•    Options for integration with existing business systems or the whole system
•    Compatibility with third-party processors and hardware
•    Ease of use
•    Good pricing and Increased functionality
•    Customer support service
•    Software popularity
•    Implementation and training services
•    Track real-time data about sales performance
•    Manage taxes

How does a POS machine help you in your business?

The use of a point-of-sale system offers many advantages. Here are some benefits of a POS machine for your business:

•    Live data access
•    Payment processing
•    Automation of inventory management
•    Accurate sales history
•    Help in customer marketing
•    Streamlining the taxes and accounting
•    Simplifying the process of staff management

How can you get such a POS system?

In the selection and purchase of a POS software tool, you need to be very careful. Here are some steps that you can follow:

•    Know your business needs
•    Explore the available options
•    Pay attention to the features that suit your need 
•    Select a vendor based on points like industry experience, market reputation, support services, etc. 
•    Compare and contrast to choose the best one