6 Points to Consider While Choosing a POS Device
POS or Point of Sale devices are rapidly replacing cash transactions in the retail sector. Merchants use POS devices for digital payments, which makes the life of customers and business owners much more effortless. But modern POS devices can help businesses do a lot more, such as inventory management, invoice generation, accounting and reporting.
There are numerous types of POS devices available in the market, so how do you select the best one for your business? The blog post offers some points that you must consider before choosing a POS devic.
Why a POS device?
POS devices can accept payment in multiple ways, including credit/debit cards, NFC contactless payments, QR code payments, and so on. As a result of tracking every transaction, POS devices improve accountability. As previously stated, POS devices can do more than just accepting payments; they also support intelligent applications that track inventory counts and generate invoices, provide transactions reports, etc. Most importantly, many surveys imply that people now, especially young people, prefer cashless payment. Hence, it is best not to be late to switch to POS devices.
How to choose the POS device for your business?
Important factors you need to consider before choosing a POS device:
Easy to use
1.Easy to use
According to the business type, the POS device must be easy to set up and use. POS software and hardware features must be simple and easy so that merchants can learn to operate the POS quickly. A system that is difficult to use will be a major turn-off for the end-user.
By and large, people are familiar with the Android operating system. Keeping this in mind, POS manufacturers tend to manufacture POS devices that are based on the said operating system. The user-friendly nature of Android makes it convenient for merchants to adopt point-of-sale devices.
Robust reports are the key to increasing accountability. A POS device should be able to generate detailed sales reports. The onscreen reports and the analysis chart must show the top running products, department-wise sale analysis, inventory tracking, and notify if any product is going out of stock.
A good report can help make decisions while purchasing goods, employee allocation in departments, and to evaluate employee performance. A POS device must have the facility to export these reports.
We should always remain prepared for the worst-case situation. Even if the problem with the POS is minor or severe, customer care must be reachable at any time. Delays in repairing POS devices might result in losing customers and valuable data.
POS software must be user-friendly and accurate. Besides the POS software's ability to create reports and tracking inventory, it should be compatible with your specific application. For banking applications, POS devices should support more sophisticated software applications that enable biometric authentication, camera, USB connectivity, detailed billing, etc.
Basic POS device must have:
Contactless payment solution
These are the essential hardware features for retail POS devices. Large enterprises and financial institutions demand more hardware features:
Keypad: To enter the account information and other data requires the Qwerty keypad.
Biometrics: A facial-recognition camera and fingerprint sensors require in POS devices for KYC registration and verification.
Connectivity: Besides GPRS and Wifi connections, Serial port and USB-enabled POS devices are available.
Display: Small displays in retail POS devices won't be enough for banking and financial institutions to carry out transactions. A large display screen with a touch capability gives you more control, reducing the time required for the process.
POS device security breaches can result in significant financial losses and harm the institution's reputation. To ensure security, POS devices should not store customers' credit card details, and all transactions should be encrypted.
The first step in selecting a POS device is to know your application well. We've outlined six factors to consider before deciding on a point-of-sale system. Concentrate on the features that are most appropriate for your application. A perfect point-of-sale system can make a big difference in your business.