When it comes to POS systems, you may be confused about what equipment you need. The answer comes down to what type of system you want and what kind of business you have. Most small businesses opt away from traditional POS systems due to price. These systems can cost thousands of dollars. Here is all the equipment you need for your point of sale point.
Cloud-Based Equipment
- Card Reader:
If you are a small business that is just starting out, you may want to opt in for the cheapest option possible. Many POS companies have developed small card readers that plug into your phone. With this device, you can type in the price you wish to charge, swipe the card, and email the receipt to the customer. These tools are incredibly cheap and sometimes they’re even free. While the device is cheap, it isn’t free to swipe in most circumstances. Square, a company that makes one of these devices, charges 2.75% per swipe and 3.5% and 15 cents per transaction for manually entering the card information. - Small Register:
The companies that make these little devices also offer tablet registers. One such register is the Square Stand. This small register costs less than traditional systems and works using an iPad. It’s easy to start up and use and can cost as little as $99. Square Stand has the same 2.75% charge per swipe for major credit cards, and you must own an iPad to use this device.
Traditional System Equipment
- Receipt Printer:
Your traditional POS system needs a receipt printer to show proof of sale. The receipt printer is just a piece of the whole point of sale system. While you can get a printer for as little as $37.30, the average receipt printer will cost around $200-$300. - Touchscreen:
A touch screen allows you to select which items are up for sale, apply discounts, and process a transaction. There are different sizes available which affect the price of your touchscreen terminal. You can purchase these terminals for an average of $400-$600. - Cash Drawer:
It’s very likely that if you’re a business, you’ll deal with cash and a cash drawer is a necessity. The average cost of a cash drawer is $100-$300 depending on exactly how large and what you need your cash drawer to do. - Payment Terminal:
The payment terminal is necessary if you want to accept debit/credit cards. The price of this machine can vary depending on whether or not you would like it to accept EMV cards. The average cost is around $400-$700. Smaller credit card readers can be purchased for around $50-$200, but these machines offer fewer options for the customer and only act as a card reader. - Barcode Scanner:
A barcode scanner is necessary if you don’t want to manually input barcodes in your store. It’s a way quick way to make sales. The price of these scanners can vary greatly, so it’s important to understand the features before choosing one. The price can be anywhere from $30 to $600.
All-in-One System Equipment
- POS Terminal:
A POS terminal acts as a compact all-in-one system. Most of these machines only accept credit cards, but they are easy to use and cheaper compared to the complete all-in-one POS system. You can purchase a POS terminal for $450-$2,000. - All-in-One POS Systems:
An all-in-one POS system is a complete set-up for your point of sale. Most of these systems include monitor, receipt printer, cash drawer, scanner, credit card reader, and more. Purchasing an all in one system may be cheaper than buying all the parts separately, but this isn’t always the case. These systems cost anywhere between $500-$3,000.
