If you’re a small business owner looking for a point-of-sale (POS) system that can do more than just process transactions, you’re in luck. The best POS systems on the market today offer a range of features that can help streamline your daily workflow, from employee scheduling to inventory tracking and customer loyalty programs. But with so many options available, choosing the right system can be a challenge.
To help you make an informed decision, we’ve analyzed leading providers across a range of metrics to bring you this list of the best POS systems for small businesses in 2024. Whether you’re looking for a system that’s easy to use, affordable, or packed with advanced features, we’ve got you covered. So read on to find the perfect POS system for your business needs.
Best POS Systems of 2024
Looking for the best POS system for your business? Here are the top 10 POS systems of 2024:
- Square POS: Ideal for businesses on a budget
- Clover: Perfect for businesses that need integrations
- Shopify POS: Best for retail businesses
- Lightspeed POS: Great for businesses that want to improve customer loyalty
- eHopper POS: Perfect for businesses with an omnichannel presence
- Aloha Cloud: Ideal for businesses that need next-day payments
- Erply: Great for businesses that need inventory management
- Revel Systems: Perfect for hospitality businesses
- KORONA POS: Ideal for high-risk merchants
- PayPal POS: Best for businesses that don’t want to pay a monthly fee
Each of these POS systems has its own unique features and benefits. Choose the one that best fits your business needs and start improving your point of sale operations today.
Why You Can Trust Forbes Advisor Small Business
Forbes Advisor Small Business is dedicated to providing unbiased rankings and information with complete editorial independence. Our team utilizes product data, expert insights, and strategic methodologies to offer you the best guidance for your business journey. We have evaluated over 20 top POS providers in the market and narrowed it down to 13, which we then assessed across three key categories and 12 different metrics. Our ratings take into account factors such as transparent pricing, employee self-sufficiency, compatibility with third-party integrations, access to customer support and ratings. Our editorial team determines all ratings exclusively, ensuring that you receive impartial and trustworthy information to make informed decisions for your business.
Best for Businesses on a Budget
Square POS
Square POS is an excellent option for businesses on a budget as it offers a free plan with no monthly fees. You only need to pay a reasonable processing fee of 2.6% plus 10 cents per transaction. It is a straightforward and user-friendly POS system that requires no training to get started.
With Square POS, you can accept payments in person, over the internet, by phone, or at the farmer’s market. It also allows you to collect leads, market via email or text, and create customer loyalty programs. This point-of-sale system is perfect for businesses that want to expand their selling beyond a physical location because it easily integrates with Instagram and Facebook, while managing your entire business from one place.
Who should use it:
Businesses on a budget that need an easy-to-use POS system with no monthly fees.
Pros
- Free forever plan available
- Includes a free card reader
- Receive better processing fee rates with a high volume of transactions
- Very customizable with numerous add-ons available
Cons
- Potential payment delays
- Processing fees could cut into profits
- Its buy now, pay later rates are very high
In summary, Square POS is an excellent choice for businesses on a budget that need an easy-to-use POS system with no monthly fees. It offers a free plan, a free card reader, and numerous add-ons to customize your experience. However, it’s essential to consider the potential payment delays and high processing fees, which could cut into your profits.
Best for Integrations
Clover
Clover is a point-of-sale system that offers a versatile solution for businesses of all sizes. Its wide range of features and integrations make it a popular choice for businesses looking to manage their transactions more effectively.
Integrations
Clover offers a vast selection of software apps available in the Clover App Market that can manage various aspects of a business. These apps integrate seamlessly with Clover devices, making it easy for businesses to get started. With hundreds of integrations available, businesses can extend the functionality of their POS to fit their specific needs.
Who Should Use It
Clover is a good choice for businesses of all sizes. Its wide range of features and integrations make it a versatile solution that can be tailored to fit the needs of any business. Whether you’re a small business owner or a large enterprise, Clover has a plan that can fit your budget.
Pros & Cons
Pros:
- Monthly fee waived the first 90 days if not getting hardware
- Wide range of hardware available
- Attractive pricing on its monthly plans
- Extend the functionality of your POS with integrations from the Clover App Market
Cons:
- Hardware is expensive
- Pricing can vary when choosing a Clover partner to order through
In summary, Clover is a versatile point-of-sale system that offers a wide range of features and integrations. With its vast selection of integrations available in the Clover App Market, businesses can extend the functionality of their POS to fit their specific needs. While its hardware costs may be high, Clover offers attractive pricing on its monthly plans and a 90-day trial period where the monthly software fee is waived, making it a good choice for businesses of all sizes.
Best for Retail Businesses
Shopify POS
Shopify POS is a comprehensive point-of-sale software that allows businesses to turn any mobile device into a point-of-sale terminal. It is fully integrated with Shopify’s other tools and services, making it an excellent choice for businesses that sell both online and in physical stores. Here are some key features of Shopify POS:
- In-person and mobile POS
- Order management
- Customer profiles
Shopify POS offers a wide range of features for inventory management, staff management, and customer relationship building. Its hardware is sleek and easy to use, and comes with built-in payment processing. It’s an excellent choice for retail businesses looking for a comprehensive point-of-sale solution.
Pros
- No credit card required for its free trial
- Works for omnichannel businesses
- Syncs inventory between online and offline orders
- No transaction fees when using Shopify Payments
Cons
- No free option
- Not the most affordable option
- Must pay for hardware
Overall, Shopify POS is a solid choice for retail businesses looking for an all-in-one point-of-sale solution.
Best for Customer Loyalty
Lightspeed POS
Lightspeed POS is a point-of-sale system that is easy to use and scalable, making it an excellent choice for businesses of all sizes. It offers a range of features, including inventory management, reporting, and customer loyalty tools, making it a top pick for businesses that want to keep their customers engaged and coming back for more.
Who should use it:
If you’re looking for a customer loyalty program, Lightspeed POS is an excellent choice. Its built-in membership and subscription tools make it easy to offer exclusive deals and discounts to members, as well as monthly boxes filled with their favorite products. The system has secure automated recurring payments that make it a breeze to manage all your memberships and subscriptions.
Pros & Cons
Here are some of the pros and cons of using Lightspeed POS:
Pros:
- Each plan includes a register
- Industry-leading customer loyalty options
- Inventory management
- Dedicated account manager for every company
Cons:
- It’s expensive compared to its competitors
- You must request a quote for hardware pricing
Lightspeed POS offers a processing fee of 2.6% plus 10 cents, a dedicated account manager, and integrated payments. The system is EMV compatible and PCI compliant, ensuring that your customers’ data is protected. With Lightspeed POS, you can keep track of your sales and profits in real-time, making it easy to manage your business effectively.
Best for Omnichannel Businesses
eHopper POS
eHopper POS is a versatile point of sale system that is ideal for small businesses with multiple sales channels. It offers unlimited transactions, pre-authorization, cash discount, and tip management features.
Why it stands out
eHopper POS is a great choice for businesses that sell in-store, online, and through marketplaces like Facebook and Instagram. Its OmniChannel plan, which starts at $39.99 per month, offers e-commerce and loyalty features not commonly found in other plans. With a one-year contract, paid plans start at $29.99 per month, billed annually, while month-to-month contract pricing starts at $39.99 per month.
Who should use it
If you’re looking for a true omnichannel experience, eHopper’s OmniChannel plan is the way to go. It’s perfect for businesses that sell through multiple sales channels and want to offer their customers a seamless shopping experience.
Pros & Cons
Pros:
- Paid plans include a free business website
- Free processing in the U.S.
- Unlimited products and transactions on paid plans
- Works offline
Cons:
- Menu builder unavailable under free plan
- Its free Essentials plan doesn’t come with cash discount or surcharge option it’s best known for.
Best for Next-Day Payments
Aloha Cloud
If you’re a restaurant owner looking for a cloud-based POS system that offers next-business-day payments, email marketing, and loyalty features, Aloha Cloud might be the right choice for you. Formerly known as NCR Silver, Aloha Cloud provides a comprehensive solution to manage both the front and back of house operations. It also offers actionable insights into your business to help you make informed decisions.
Aloha Cloud’s Starter plan is free, but its features are limited. If you need more advanced functionality, you can opt for the Pro plan, which starts at $65 per month and includes online ordering capabilities.
Who should use it:
Restaurants that want next-business-day access to their funds.
Pros
- Free forever plan
- Email marketing and loyalty included with both plans
- Access to funds the next business day
- 24/7/365 customer support
- Personalized onboarding
Cons
- Payment processing rates are high for its free plan
- Inventory costs extra
- Pricey paid plan
To learn more about Aloha Cloud, you can read our full review.
Best for Inventory Management
Erply
If you’re looking for a versatile inventory management system, Erply is a great choice. Its tiered pricing model caters to different business needs, from basic point-of-sale requirements to complex inventory systems for larger retailers. Erply’s mobile app is highly adaptable and integrates seamlessly with a variety of payment providers, making it easy for businesses to operate efficiently.
Erply’s premium packages come with advanced CRM and API access, which support improved customer interaction and enable better business automation. The platform offers an impressive range of customization features and scalability, making it particularly advantageous for growing businesses. Erply’s detailed point-of-sale and inventory management system provides industry-specific solutions, making it a preferred choice for diverse business types.
Who should use it:
Erply is ideal for businesses of varying sizes, from small stand-alone stores to large-scale franchises and enterprises. However, you’ll need its paid plan for inventory management features.
Pros
- Paid plans come with an inventory database and backend management
- Offers a variety of payment processors
- Scalable
- Paid plans have API access
Cons
- Inventory management not available for its free plan
- Limited customer support on free plans
Best for Hospitality Businesses
Revel Systems
If you’re looking for a point-of-sale (POS) software that can handle the complexities of the hospitality sector, Revel Systems is an excellent choice. With a starting price of $99 per month (per terminal, two-terminal minimum), Revel offers a comprehensive suite of features that cater to the needs of businesses operating across multiple locations.
One of Revel’s standout features is its versatility in managing different order methods, including traditional, kiosk, mobile, and online orders. This ensures that customers have a seamless ordering experience, regardless of their preferred method.
With in-house payment processing and support for diverse payment types, Revel makes transactions easy and hassle-free. Its flat processing fee structure also helps businesses manage their expenses more effectively.
Revel’s ability to manage multiple locations from a single dashboard is a significant advantage for businesses with multiple outlets. This feature streamlines operations and makes it easy to keep track of inventory, sales, and employee management.
One potential downside to Revel is its steep onboarding fee, which starts at $674. However, the software’s robust feature set and dedicated account manager make it a worthwhile investment for high-traffic hospitality businesses.
Who should use it:
Revel Systems is best suited for hospitality businesses, particularly those operating across multiple locations.
Pros:
- Accept delivery, kiosk, online, and mobile orders
- Open API
- Manage multiple locations from one dashboard
- Dedicated account manager
Cons:
- Steep onboarding fee (starts at $674)
- Two-terminal minimum
Best for High-Risk Merchants
KORONA POS
KORONA POS is a comprehensive point of sale system that caters well to high-risk merchants. It offers an impressive feature set that includes e-commerce integration, employee time tracking, loyalty program integration, EMV and mobile payment options, retail inventory management tools, and CRM capabilities. The system does not bind businesses with contracts or hidden fees and offers unlimited users and sales.
One of the distinct advantages of KORONA POS is its compatibility with high-risk merchant industries such as CBD, liquor, wine, dispensary, and vape, which many other POS systems do not support due to the inherent risk. KORONA POS further supports scalability, making it an excellent choice for businesses looking to grow or manage multiple stores. Its 24/7 professional support ensures businesses receive help when needed.
If you are a high-risk merchant who prefers a fixed monthly fee instead of transaction-based fees, KORONA POS is the best-suited POS system for you.
Pros & Cons
- No transaction fees
- Includes an e-commerce store
- API access
- Unlimited users
- Unlimited sales
- Works with high-risk merchants
- Need an Enterprise plan for ticketing and event management
- No pre-built integrations on its first three plans
To learn more about KORONA POS and its features, you can read our full KORONA POS review.
Best for No Monthly Fee
PayPal POS
If you’re looking for a POS system with no monthly fee, PayPal POS, also known as PayPal Zettle, is a great option. Instead of a monthly fee, you only pay a per-transaction fee. This fee varies depending on how the transaction occurs, such as if it’s swiped or invoiced. Transaction fees start at 2.29% plus 9 cents per transaction and go up to 3.49% plus 49 cents per transaction.
PayPal Zettle also offers inventory management and daily performance reports. Plus, you can accept Venmo and PayPal QR code payments. The first card reader is $29, and any subsequent card readers cost $79 each. However, it’s important to note that invoiced transaction fees can be expensive.
Who should use it:
Businesses that prefer to pay a per-transaction fee rather than a monthly fee.
Pros:
- No monthly fee, just pay transaction fees.
- Accept Venmo and PayPal QR code payments.
- Inventory management.
- First card reader is $29.
Cons:
- Invoiced transaction fees are expensive.
- Additional card readers cost $79 each.
- Wall plug not offered for Zettle hardware.
What Is a Point-of-Sale System?
A point-of-sale (POS) system is a combination of hardware and software used to facilitate transactions. It can be as simple as a card reader or as complex as an all-in-one solution that includes features such as scheduling, inventory management, customer relationship management (CRM), loyalty, front of house, and e-commerce. A POS system is used by businesses of all sizes in various industries, including retail, hospitality, restaurants, and services.
If your business relies on transactions, a POS system is likely a good fit for you. It can help you manage inventory, track customer data, and conduct transactions with ease. With a POS system, you can streamline your operations and improve your customer experience.
How To Choose the Best POS System
When it comes to choosing the best POS system for your business, there are several factors to consider. In this section, we will discuss the different features of POS systems that you should consider to make an informed decision.
POS Software Features
The first step in choosing a POS system is to consider the software features that you need. It is important to determine whether you need basic transaction processing or more advanced features like loyalty programs, appointment scheduling, inventory management, or email marketing. Here are some common POS software features to look for:
- Credit card processing: All POS systems will process credit and debit cards, but some systems will require you to use a specific payment processor. Others will let you choose your own processor.
- Loyalty: If you want to offer loyalty programs or gift cards, look for a system that offers this feature.
- Appointment scheduling: If you’re in the business of appointments, such as a salon or spa, look for a system that offers online booking and appointment reminders.
- Inventory management: If you need to track inventory levels, look for a POS system that includes this feature. Some systems will even let you automatically reorder when inventory gets low.
- Customer relationship management (CRM): If you want to track customer data, look for a system that includes a CRM feature. This will let you keep track of customer purchase history, contact information and more.
- Reporting: All POS systems will offer some kind of reporting, but some will be more robust than others. If you need detailed reports on your business performance, look for a system that offers this.
- E-commerce: If you want to sell online as well as in store, look for a system that offers an e-commerce solution. This will let you manage inventory and orders from one central platform.
POS Hardware Features
In addition to software, you’ll also need to consider hardware when choosing a POS system. The type of hardware you need will depend on the type of business you have and the features you’re looking for. Here are some common POS hardware features to look for:
- Touch-screen display: A touch-screen display is a common feature on POS systems. This lets you easily navigate the software and enter information.
- Receipt printer: A receipt printer is a must-have for any POS system. This lets you print receipts for customers.
- Barcode scanner: If you need to scan barcodes, look for a POS system that includes a barcode scanner.
- Cash drawer: A cash drawer is another must-have for any POS system. This lets you store cash and keep it organized.
- Payment terminal: If you want to accept credit and debit cards, you’ll need a payment terminal. Some POS systems come with a built-in terminal, while others require you to use a separate one.
Types of POS Systems
There are many types of POS systems on the market, from simple card readers to all-in-one solutions. The best POS system for your business will depend on your specific needs. Here’s a rundown of the different types you might encounter:
Restaurant POS: A restaurant POS system is a specialized type of POS system that’s designed for restaurants. These systems typically include features such as table management, kitchen display systems, and online ordering. Most will also have inventory management, so you can auto-reorder ingredients as they get low.
Retail POS: A retail POS system is designed for retail businesses. These systems typically include features such as inventory management, customer loyalty programs, and gift cards. Some retail POS systems also offer appointment scheduling and reporting.
iPad POS: An iPad POS system is a type of mobile POS system that uses an iPad as the main POS terminal. These systems are becoming increasingly popular due to their portability and ease of use. Many iPad POS systems come with built-in features such as credit card processing, scheduling, and receipt printing.
Mobile POS: A mobile POS system is a type of POS system that can be used on a mobile device, such as a smartphone or tablet. People are relying more on these systems because of their portability and easy setup. Many mobile POS systems come with built-in features such as credit card processing, inventory management, and receipt printing.
Android POS: An Android POS system is a type of mobile POS system that uses an Android device as the main point-of-sale terminal. Due to their mobility and simple-to-use interface, these systems are increasing in popularity, too. Most Android POS systems come with features such as credit card processing, barcode scanning, and receipt printing.
Cloud POS: A cloud POS system is a type of POS system that’s hosted in the cloud. This means that all of your data is stored online, making it easy to access from anywhere. Cloud POS systems are becoming more popular because they’re easier to set up and use than traditional POS systems. They also typically come with features such as inventory management
How Much Does a POS System Cost?
When choosing a POS system, the cost will depend on the features you require. The more features you need, the higher the price you can expect to pay. POS systems can be rented for a monthly fee or purchased outright. To reduce costs, you can look for a POS system that offers a free trial period or seasonal promotions.
In addition to the cost of the POS system, you will need to factor in the cost of hardware such as receipt printers and barcode scanners. These can range in price from a few hundred dollars to a few thousand, depending on the quality and features you need.
After paying for hardware and software, you will also need to pay processing or transaction fees. These fees are typically a percentage of the total sale, plus a small per-transaction fee. For example, if you pay 2.5% plus 10 cents per transaction and make a sale for $100, your total fee would be $2.60.
Sample Processing Fees for In-Person Transactions
When it comes to processing fees for in-person transactions, the fees can vary depending on the payment processor you choose. Here are some sample processing fees for in-person transactions:
- PayPal: 2.7% per transaction
- Square: 2.6% + 10 cents per transaction
- Stripe: 2.9% + 30 cents per transaction
- Authorize.Net: 2.9% + 30 cents per transaction
It is important to note that these are just sample fees and actual fees may vary based on your specific business needs and payment processor. Be sure to research and compare fees from different payment processors to find the best fit for your business.
Point-of-Sale vs. Cash Register: Which Is Right for You?
When it comes to choosing between a point-of-sale (POS) system and a cash register, you need to consider your business needs. Both options have their advantages and disadvantages.
POS Systems
POS systems are more expensive than cash registers, but they offer more features and functionality. POS systems can track inventory, customers, employees, and sales. They also offer features such as loyalty programs, gift cards, and reporting.
If you want to track inventory, customers, and sales, and offer loyalty programs and gift cards, then a POS system is the right choice for your business. However, if you only need to track sales, a cash register might be a better option.
Cash Registers
Cash registers are less expensive than POS systems, but they offer fewer features. Cash registers can track sales, but they typically cannot track inventory, customers, or sales tax. They also rarely offer features such as loyalty programs, gift cards, and reporting.
If you only need to track sales, a cash register is a good choice. Cash registers are also a good option if you cannot afford a POS system. However, if you want to track inventory, customers, and sales, and offer loyalty programs and gift cards, a cash register might not be sufficient for your business needs.
In summary, the choice between a POS system and a cash register depends on your business needs and budget. Consider the features and functionality you require and choose the option that best suits your needs.
How to Use a POS System
Once you have selected a POS system, it is essential to know how to use it effectively. Fortunately, most POS systems are user-friendly and come with training materials or customer support to help you get started.
If you have opted for a cloud-based POS system, the first step is to create an account and log in. Once you have logged in, you can begin adding products, customers, and employees. Most cloud-based POS systems include a built-in tutorial to guide you through the process.
For a self-hosted POS system, you will need to install the software on your computer. Once installed, you can start adding products, customers, and employees. Most self-hosted POS systems come with a built-in tutorial to help you get started.
If you have chosen a POS system that involves hardware, such as receipt printers and barcode scanners, you will need to set up the hardware. This process can be more complicated, and in some cases, may require an onboarding specialist to assist you in-person or over the phone. Once the hardware is set up, you can start adding products, customers, and employees.
After adding all the necessary information, you can start using your POS system to make sales. To process a sale, you need to add the items to the order and then process the payment. Most POS systems can process payments by credit card, debit card, cash, or check.
Once the payment is processed, you can print or email a receipt to the customer. Some POS systems also allow you to send text or email receipts.
Reporting is a crucial feature of most POS systems. By generating reports, you can track sales, inventory, and employees. This information can help you make informed decisions about your business. Most POS systems offer a variety of reports, such as sales reports, inventory reports, and employee reports. Some POS systems also offer custom reporting. By utilizing your reports, you can gain insights into your business and make changes accordingly.
In summary, using a POS system is relatively straightforward. By following the steps outlined above, you can set up your system and start processing sales quickly. Remember to take advantage of the reporting features to gain valuable insights into your business and make informed decisions.
Methodology
When ranking the best POS systems for small businesses, we use a comprehensive evaluation process that analyzes each system across five key categories. These categories are weighted according to their importance to small businesses. The following subsections provide an overview of our evaluation process.
Pricing (10% of score)
Pricing is a crucial factor in selecting a POS system, and this category accounts for 10% of the total score. We examine the cost of each system, including monthly fees, transaction costs, and hardware prices. We also evaluate whether there is a free trial or free version available, the pricing of initial and additional card readers, and the potential for hidden charges. The table below summarizes our evaluation process for the pricing category.
| Pricing Criteria | Weight |
|---|---|
| Monthly fees | 3% |
| Transaction costs | 3% |
| Hardware prices | 2% |
| Free trial/free version | 1% |
| Pricing of initial and additional card readers | 1% |
General Features (30% of score)
General features account for 30% of the total score and cover the essential functionality of the POS system. We assess whether the system caters to retail and restaurant businesses, offers mobile payment options, includes built-in payment processing, provides inventory management capabilities, and supports software integrations. We also evaluate the POS system’s compatibility with e-commerce platforms. The table below summarizes our evaluation process for the general features category.
| General Features Criteria | Weight |
|---|---|
| Retail and restaurant business support | 6% |
| Mobile payment options | 6% |
| Built-in payment processing | 5% |
| Inventory management capabilities | 5% |
| Software integrations | 4% |
| Compatibility with e-commerce platforms | 4% |
Additional Features (20% of score)
Additional features provide enhanced functionality that may prove beneficial to certain businesses. This category accounts for 20% of the total score. We evaluate whether the POS system supports multiple locations, offers employee scheduling, enables contactless payments, provides hardware bundles, manages gift cards, has self-service capabilities, generates reports and analytics, includes a free card reader, offers table management for restaurants, and facilitates loyalty programs. The table below summarizes our evaluation process for the additional features category.
| Additional Features Criteria | Weight |
|---|---|
| Multiple location support | 3% |
| Employee scheduling | 3% |
| Contactless payments | 2% |
| Hardware bundles | 2% |
| Gift card management | 2% |
| Self-service capabilities | 2% |
| Reports and analytics | 2% |
| Free card reader | 2% |
| Table management for restaurants | 1% |
| Loyalty programs | 1% |
Ratings and Reviews (10% of score)
Real user feedback and reviews from trusted platforms such as Trustpilot, G2, and Capterra contribute to our evaluation in this category, which accounts for 10% of the total score. We assess the number of reviews and the rating on each platform. This category provides a snapshot of user satisfaction and system reliability. The table below summarizes our evaluation process for the ratings and reviews category.
| Ratings and Reviews Criteria | Weight |
|---|---|
| Number of reviews | 5% |
| Rating on each platform | 5% |
Expert Score (30% of score)
Our expert score is derived from firsthand experience and professional insight into each POS system, making up 30% of the total score. We evaluate standout features, value for money, popularity, and ease of use. This involves examining any learning curve associated with the system, the intuitiveness of the platform, and the prevalence of upsells or hidden costs. The expert score helps to provide a thorough understanding of the overall quality, usability, and affordability of each system. The table below summarizes our evaluation process for the expert score category.
| Expert Score Criteria | Weight |
|---|---|
| Standout features | 10% |
| Value for money | 8% |
| Popularity | 7% |
| Ease of use | 5% |
2024 POS System Trends
As technology continues to advance, the point-of-sale (POS) system landscape is also evolving. Here are the top trends that you should keep an eye on to ensure that your business stays ahead of the curve.
Cashless and Touchless Transactions Continue to Gain Momentum
In 2024, cashless and touchless payment options will continue to be popular. The COVID-19 pandemic accelerated the shift toward these payment methods, and they are now an essential part of purchasing infrastructure. Consumers appreciate the hygiene, speed, convenience, and security that these payment methods offer. Tap-and-go credit and debit cards, as well as digital wallets accessed through smartphones or smartwatches, are some of the most popular touchless payment options. Approximately 51% of Americans are now using contactless payment in some form.
More Advanced POS Hardware and Software
Gone are the days when POS systems had to be run from large, clunky, stationary computer systems. In 2024, expect to see more advanced and mobile POS hardware, such as smartphones, tablets, Bluetooth technology, secure order pickup lockers, electronic shelf labels, and smart self-checkout solutions. This hardware is made possible by both physical and virtual improvements in technology. Advancements in software powering these devices have made them more functional and flexible.
Cloud-hosted POS Systems are the Future
Cloud-based technology has revolutionized the business world, and POS systems are no exception. Cloud-based POS systems can be easily updated and integrated with other business operations. They also back up and store data securely automatically. Cloud POS systems come with significantly lower price tags, usually in a software-as-a-service (SaaS) format, making them more accessible to businesses with budget constraints.
Increased Mobility
The cloud allows POS systems to operate over an internet connection, which has paved the way for these systems to be used on mobile devices. In 2024, expect to see more mobile POS systems, increasing the system’s flexibility and improving a business’s overall productivity. This trend will be especially beneficial for businesses that need to operate in multiple locations.
Improvements in Self-service Kiosks and Infrastructure
Self-service infrastructure is advancing rapidly, thanks to the rise of cloud technology. In 2024, expect to see more advanced self-service kiosks that can be used in various applications, such as all-in-one restaurant ordering/payment and brand-new storefronts in which checkout and payment isn’t necessary at all (Amazon Go). These technologies are convenient, cost-effective, and can reduce errors in the ordering and checkout process.
Shopping Experience
In 2024, a customer’s shopping experience will be more personalized than ever. Companies can use data to offer messages, offers, and products that are tailored to a customer’s individual behavior and preferences. Customers expect that companies will use their data to improve their experience with the company. To meet these expectations, businesses will allocate resources to make these services a priority. Additionally, companies will ensure that they proactively direct customers to their preferred channels, keep their checkout information at the ready for increased convenience, allow them to switch between applications and communication channels effortlessly, and connect them automatically with the best resources to meet their needs.
In conclusion, these 2024 POS system trends will shape the future of retail. By staying up-to-date with these trends, businesses can ensure that they stay competitive and provide the best possible shopping experience for their customers.
Frequently Asked Questions (FAQs)
What is the Best POS for Small Business?
When it comes to the best POS system for small businesses in 2024, the eHopper POS is our top pick. This system stands out for its free processing, free hardware, and e-commerce integrations, making it ideal for businesses on a budget or those looking for omnichannel solutions. Our second top pick is Lightspeed POS, which offers a customer loyalty program to keep customers engaged and spending. Clover takes our third top pick due to its extensive third-party integrations with apps such as DocuSign, Xero, Mailchimp, and WooCommerce.
What Does a POS System Do?
A POS system is a combination of software and hardware that businesses use to manage sales, take payments, track inventory, and connect to other business systems. With its reporting and analytics features, business owners can make informed decisions about their business.
How Do I Choose the Right POS System for My Business?
Choosing the right POS system for your business depends on several factors, including your budget, the type of business you have, and the features you need. We recommend investing in the best system you can afford, preferably one that can grow with your business.
How Much Does a POS System Cost?
The cost of a POS system varies depending on the features you need and the size of your business. Some systems are free, while others can cost hundreds or even thousands of dollars per month.
Do I Need a POS System?
If you have a brick-and-mortar store, a POS system can be an invaluable tool for managing inventory, processing payments, and tracking sales data. Even if you don’t have a physical store, a POS system can still be helpful for managing online orders and shipping.
How Do I Set Up a POS System?
Most POS systems come with onboarding documentation that walks you through the setup process. Typically, this involves creating an account, adding products, customers, and employees, and then connecting hardware such as receipt printers and barcode scanners.
Can I Use a POS with an E-commerce Store?
Yes, you can use a POS system with an e-commerce store. In fact, many POS systems integrate with popular e-commerce platforms, such as Shopify and WooCommerce. This integration allows for real-time inventory syncing between your POS system and e-commerce store.
What Are the Four Types of POS Systems?
There are four main types of POS systems: legacy (traditional, on-premises hardware systems), tablet-based (using tablets as the main interface), mobile (operating on smartphones and mobile devices), and cloud-based (hosted on the internet, allowing data access from anywhere). Choosing the right type of system depends on your business needs and budget.
What are the important features to consider when choosing a POS system for a small retail business?
When selecting a POS system for a small retail business, there are several key features to consider. These include ease of use, inventory management, payment processing, customer management, and reporting capabilities. A good POS system should also be compatible with other software and hardware, such as barcode scanners and receipt printers.
Which POS systems provide the best value for small businesses in the USA?
Several POS systems offer excellent value for small businesses in the USA. Some of the most popular options include Square, Shopify, Lightspeed, and Vend. These systems offer a range of features at affordable prices, making them ideal for small businesses with limited budgets.
Are there any high-quality, free POS systems available for small businesses?
While there are some free POS systems available for small businesses, they may not offer the same level of functionality as paid systems. However, some good free options include Loyverse, Imonggo, and eHopper. These systems offer basic features such as inventory management and payment processing, but may require additional fees for more advanced features.
How do POS system needs differ between restaurants and retail stores?
The needs of a POS system can differ significantly between restaurants and retail stores. Restaurants require features such as table management, menu customization, and order tracking, while retail stores need inventory management, customer management, and reporting capabilities. Some POS systems, such as Toast and Clover, offer features tailored specifically to restaurants, while others, such as Lightspeed and Square, cater more to retail businesses.
What are some POS systems in Canada that cater specifically to small businesses?
Some popular POS systems in Canada that cater specifically to small businesses include Lightspeed, Shopify, Square, and Vend. These systems offer a range of features such as inventory management, payment processing, and reporting capabilities, making them ideal for small businesses in Canada.
Can you recommend a POS system with no monthly fees for a small business?
While most POS systems require monthly fees, there are some good options that offer no monthly fees. Some of the best free POS systems for small businesses include Square, Imonggo, and Loyverse. These systems offer basic features such as inventory management and payment processing, but may require additional fees for more advanced features.
Next Up in Business
Looking ahead, there are several trends and developments to keep an eye on in the world of business. Here are some potential areas of growth and change to consider:
- Digital transformation: As technology continues to evolve and become more integrated into our lives, businesses will need to adapt to stay competitive. This may involve investing in new software or hardware, developing digital marketing strategies, or rethinking traditional business models.
- Environmental sustainability: With increasing concerns about climate change and environmental degradation, many consumers are looking for businesses that prioritize sustainability. This may involve reducing waste, using renewable energy sources, or developing eco-friendly products and services.
- Remote work: The COVID-19 pandemic has accelerated the trend towards remote work, and it’s likely that many businesses will continue to offer flexible work arrangements even after the pandemic subsides. This may involve investing in new communication tools and software, rethinking office design, or developing new policies and procedures.
- Social responsibility: Consumers are increasingly looking for businesses that prioritize social responsibility and ethical practices. This may involve supporting diverse and inclusive workplaces, partnering with social justice organizations, or donating a portion of profits to charitable causes.
- E-commerce: With the rise of online shopping and the increasing popularity of mobile devices, businesses that can effectively sell products and services online are likely to see continued growth. This may involve investing in new e-commerce platforms, developing mobile apps, or optimizing websites for search engines.
As always, it’s important to stay up-to-date on the latest trends and developments in your industry in order to stay competitive and provide the best possible products and services to your customers.