When you think of Point of Sale or POS, it is crucial first to consider the different modes of payment preferred by customers. Say, for instance, you have a POS system in a brick and mortar store. Here you will have to design the system so that it accepts both cash and card payment. The most common method of making payments nowadays is the mobile gateway or the mobile POS system. The other is the handheld POS system, which you will see in most brick and mortar stores. Before you consider POS integration, you must consider the pros and cons of both methods of making payments. Some of the essential features of the POS systems are as follows:
Mobile POS system
When you consider the POS system, you also need to evaluate the data you need to integrate. You need to ensure that the information on the credit card is remotely and automatically updated. Usually, this form of POS service is provided by companies offering Software as a Service. The data integration must be done seamlessly so that customers do not face any problem while making a payment using mobile POS. Some of the pros and cons of mobile POS are as follows:
- Mobile POS makes the entire process of making a purchase and paying for it much more straightforward.
- It is also less expensive for the seller as the Software gets updated automatically, and the POS integration can be done anytime and anywhere.
- As the updates can be done remotely, there is no need for personnel to be present when the system is being updated.
- The fact that you do not need people to upgrade the system can help reduce the expense of maintaining the POS system significantly.
Thus, initially, the mobile POS system seems to be cost-effective and more useful. It also does not have any upfront costs like a traditional POS system. However, in the long run, the expenses may increase as you will have to increase the number of subscriptions. This will naturally increase the subscription charges.
Handheld POS system
This is an on premise POS system. This is ideal if you think of a POS system that will consist of swiping of credit or debit cards. Some of the pros and cons of the handheld POS system are as follows:
- The handheld POS system can be integrated with a cash register. Hence, with the help of a single POS system, you can accept two payment forms: cards and cash payments.
- It offers better inventory management. You will have to put in the stock details only for the first time, and after that, you can update the system by putting the stock changes.
Thus, the traditional POS system allows for better management of inventory and better handling of sales. Multiple payment modes are also preferred by customers who often wish to make payments both by card and cash. However, a handheld POS has more upfront costs with regard to installation. Moreover, if the system crashes, you will have to reinstall it, which can prove quite expensive. Therefore compared to mobile POS, the handheld POS is more expensive.
When you are thinking of installing a POS system, it is essential to take into consideration the preferred mode of payment. If your customers prefer paying with a credit or debit card, you should consider using a mobile POS system. Otherwise, you can consider using the traditional handheld POS system. Thus, depending on your customers and the type of services you are looking for from the POS system, you should select one.
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