A point of sale, also known as “POS,” is the place where your customer pays for the goods or the services he purchased from your company. A POS system is what is used so that the customer can make a payment. Basically, a point of sale system will use both POS hardware, and possibly POS software to process a transaction or payment. While cash registers have almost always been used as a point of sale system, they do not have as many features as a modern POS system. Many retail businesses today use a computer terminal as well as POS software for transactions and payments.
Online or In-store?
An online POS system, or a cloud-based POS system is a web based application. It is easy to access and can be hosted by the provider or it can be hosted on your own server. There are numerous advantages to using an online POS system. It is easy to install, and it is also relatively inexpensive to acquire and operate. Another advantage is that you can use it on a portable device, and this makes it an ideal system for a business where you are constantly on the move. Think of a restaurant where customers pay at their table, or selling your goods at a market.
There are a variety of different of POS software systems where you can use specific devices at your checkout. These devices can include an electronic cash drawer, bar-code scanners, credit card readers, and receipt or invoice printers. An in-store POS system has many advantages over the now almost-obsolete cash register. Businesses can only benefit from the available, easy-to-use and efficient systems now available. A POS system will help eliminate human error, can help you track and manage your inventory in real time and obviously will monitor your sales records.
How do I know they are safe to use?
POS systems collect data from customer credit cards, so it is makes sense that this data is well-protected. End-to-end encryption of data is used with any good POS system, which means that the customer’s data stays encrypted while it travels from the POS system to the processor. Cloud or web-based systems can help prevent potential data theft by transmitting all the collected information over a secure HTTPS channel directly to cloud-based servers. As the store owner, you should ensure that security measures are in place to keep your POS safe. You can use the same security measures that you use to protect the other computer systems in your business. Using security software, such as anti-virus software, keeping your systems updated, insisting on strong passwords, and limiting administrator access are ways you can keep your POS system secure. Another precaution would be to add a firewall to your system.
The way forward
When you use a modern POS system, whether it is in-store or online, you make your business more cost-focused, it will also provide you with a better insight into revenues, will save time, and importantly, will improve the relations with your customer.
If you would like more information about POS systems, or to sign up for a merchant account, please call (888) 924-2743 or go to Charge.com.