POS systems are the backbone of all retail businesses and if you are looking for the Best POS Systems then this guide is for you.
POS systems are in in every store, providing business owners with data they need to manage their companies and analyze what works and what doesn’t.
Point-of-sale (POS) systems collect information about each transaction made by customers at your location, allowing you to see how much money was spent on which items, who bought them, where they were purchased from before coming to your store, etc.
POS systems also allow retailers to track inventory levels in real-time so that they can restock when necessary before closing for the night or day.
The best point-of-sale (POS) system will depend on several factors, including business size, needs for tracking inventory; space available; customer traffic volume; and POS type.
According to Fit Small Business, 46% of restaurants want to upgrade their POS for better omnichannel integrations. So if you want the best POS that won’t need quick replacement then you are on the right page!
This article will look at the top 10 best point-of-sale systems Of 2023 and discuss what makes them top-notch.
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Best POS Systems
Here are the top 10 options based on:
- Best Overall – Square
- Best For Inventory Management – Lightspeed
- Beast For Hospitality – Epos Now
- Best For eCommerce – Shopify
- Best For Restaurants – TouchBistro
- Best For Third-Party Payment Processors – Clover
- Best For Small Businesses – AirPOS
- Best For Retail – Vend
- Best Premium – Revel Systems
- Best For Franchises – ERPLY POS
1. Square — Best Overall
Square POS systems and devices, founded in 2009, are utilized in small businesses ranging from retail stores to restaurants.
Square is the best overall POS system because of its versatility and various pricing options.
Square was one of the first companies to offer card payments straight from mobile devices, using hardware that plugs into a smartphone or tablet – a way that allows mobile company owners to accept card payments without having to invest in costly POS hardware.
While others have followed suit, Square remains one of the best options for mobile businesses.
The cost is particularly appealing: Square charges just per transaction, with no monthly fees for software usage.
This is even more interesting considering that transaction rates aren’t significantly higher than other providers at 2.6 percent + 10¢.
This is a decent compromise if you simply need to accept card payments occasionally, as many mobile businesses do.
Setup is simple, and since the Square POS software works on both Apple and Android devices, it should seem instantly familiar.
This surprisingly sophisticated little app has features like splitting a bill immediately from the product page, PCI-compliant Cards on File, and an offline mode.
Pros and Cons
Pros
- For online sales, a robust free solution is available.
- Payment mechanism that is integrated
- Inventory can be easily tracked.
- Can be used in an offline mode.
Cons
- Expensive processing costs for high-volume enterprises
2. Lightspeed — Best For Inventory Management
Lightspeed is a powerful and feature-rich point-of-sale system ideal for restaurants, but it also works well for retail and e-commerce firms.
Restaurants, retail, and e-commerce businesses can benefit from Lightspeed’s customized point-of-sale systems.
Businesses can use its cloud-based software to manage inventory and marketing, track sales, manage staff, and process payments.
The software integrates with third-party systems for more marketing, customer loyalty, and employee management features.
Except for cash drawers, receipt printers, and barcode scanners, which are offered packaged or a la carte via multiple hardware vendors, Lightspeed’s hardware is entirely iPad-based.
Lightspeed does not provide off-the-shelf products, so signing up and getting started is a bit more complex.
This may not be suited for smaller businesses looking for a basic solution, but for others, customizability can be a major benefit.
Pros and Cons
Pros
- Bespoke solution
- Cloud software works with your current hardware or Lightspeed products.
- Features for inventory reporting
- Unlimited inventory items
Cons
- No Android or Windows option
- Accounting software integration requires a higher-tier plan.
3. Epos Now — Beast For Hospitality
Epos Now is a cloud-based POS system with a built-in CRM and many additional features thanks to its app store. It’s well-suited for usage in hospitality environments.
Because everything is stored in the cloud, you can access your reports and back-office tools from any browser, making this a convenient and adaptable option.
In terms of cost, you can pay $750 for the software upfront, which can save you a lot of money in the long run: compared to the monthly charge, it’s cheaper after only 20 months of usage.
Product management and performance reporting will assist you in identifying opportunities, while employee reports will allow you to train and incentivize your employees as necessary.
The integrated CRM will assist you in tracking and analyzing customer behavior.
For hospitality businesses, a loyalty mode is a fantastic tool that costs extra but is quite powerful.
Pros and Cons
Pros
- CRM built-in
- For better security, hosting is outsourced to AWS.
- Own app store
- Excellent third-party app integration
Cons
- There is no knowledge base.
- Paid customer support
4. Shopify — Best For eCommerce
Shopify is most known for its e-commerce platforms, but it also provides point-of-sale software to small business merchants that work online and offline.
The POS system is closely connected with Shopify’s website platform. It includes a variety of reporting and analytics tools, such as an interactive dashboard of sales, orders, and traffic, as well as retail sales and financial reports.
Shopify’s POS software works on both Android and iOS devices, and the company also offers merchants its own branded hardware, such as a tap and chip card reader. A typical retail hardware package costs $159.
Shopify POS Lite is bundled with all Shopify plans in terms of software.
Otherwise, the Basic Shopify plan, designed for budding eCommerce businesses with minimal in-person sales, would cost you $29 per month.
Shopify has a lot of plug-and-play hardware, making customizing your setup a breeze. Complete retail kits, tap, chip card readers, and iPad stands are also available.
To get help, visit Shopify’s 24/7 support center or search its extensive knowledge base.
Pros and Cons
Pros
- Affordable plan options
- Every plan includes abandoned cart recovery.
- There are no additional transaction fees over exchange rates.
- Plug-and-play hardware
Cons
- The basic plan does not offer to report.
- With the Basic plan, only two people can use the POS.
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5. TouchBistro — Best For Restaurants
TouchBistro is a point-of-sale system created specifically for restaurants.
TouchBistro can handle menus, reservations, and tables, as well as customer benefits like loyalty incentives, in addition to its mobile, tablet-centric point of sale system (depending on the package you choose).
It also offers online ordering, which is very useful to increase your delivery or meal pick-up options.
TouchBistro’s POS hardware and software, which uses iPads, is simple to use and ideal for a restaurant or bar.
Small restaurants may save money by using a single iPad POS system with a single payment terminal.
Up to five iPads can be used in a medium-sized restaurant, with a sixth serving as the central terminal.
Custom-built POS systems with a PC as the central hub might benefit larger restaurants, allowing you to connect as many mobile devices as needed.
TouchBistro offers outstanding value for money thanks to its feature-rich software, low costs, and straightforward setup process.
It would be tough to find a better alternative for your requirements if you run a restaurant or bar.
Pros and Cons
Pros
- iPad POS system
- Detailed analytical reporting is provided.
- Easy-to-use interface
- Integrated credit card processing
Cons
- Customer service isn’t always quick to respond.
- Apple products must be used mainly.
6. Clover — Best For Third-Party Payment Processors
Clover’s point-of-sale system is noted for being very flexible and well-integrated with its hardware.
Clover contains many built-in tools for sales and business management, as well as several free apps that expand the software’s capabilities.
The system is offered as a stand-alone POS system, allowing merchants to choose their preferred payment processor.
The company’s payment processing software can also be used on a phone, laptop, or other devices if you buy a Clover Account service plan.
Clover Station Solo, Clover’s all-in-one POS system, starts at $1,349 for the most comprehensive set of products.
Clover Mini is another all-in-one POS system that costs $749, plus $499 for the Clover Flex card reader.
Clover provides free phone, email, and web-based customer service to its customers.
Pros and Cons
Pros
- It is simple to use and has a simple user interface.
- You’ll have access to the Clover App Market, where you can download various third-party apps.
- You can make changes to your inventory process whenever you want.
- Provides multi-layered security to help protect your information.
Cons
- It can be costly to get started.
- Does not provide a free hardware product as other competitors do.
7. AirPOS – Best For Small Businesses
AirPOS is a lesser-known POS provider with a lot to offer, such as a clean and straightforward backend and simple integration with payment and accounting software.
You can access your POS from anywhere and anytime since it is completely cloud-based.
This is an excellent solution for small businesses since it is simple to use, quick to set up, and has no fixed contracts.
You’ll need to integrate AirPOS with companion services like iZettle and SumUp to fully utilize it, including taking payments, though this is a simple process.
Transaction rates vary because payments are handled by third parties; iZettle, for example, starts at 1.75 percent.
Hardware is available from StoreKit, a UK-based ePOS company that offers a wide range of hardware options.
If you already have a tablet and just need a card reader, that is also an option. This makes it simple for small businesses to start small and scale up as needed.
The Pro package (£39.99) includes additional features such as a loyalty program.
AirPOS is available without a contract or any hidden fees—all you have to do is pay the monthly fee, and you’re good to go.
Pros and Cons
Pros
- Signing up is simple.
- Companion services are integrated.
- No fixed contract
- An easy-to-use interface
Cons
- In some places, it’s a little disjointed.
8. Vend — Best For Retail
Vend, founded in 2010, is a credible provider of POS systems that are simple to use and compatible with a variety of equipment.
Vend is our best POS system for retail because of its advanced inventory management and analytics.
Vend provides a variety of reporting and analytics tools to improve the management of sales, customer data, inventory, and the customer experience.
Vend provides free customer support via phone, email, and live chat for all plan levels.
Vend’s POS software is compatible with a wide range of third-party hardware, including barcode scanners, cash drawers, and receipt printers. It can work on a variety of devices, including iPads, PCs, and Macs.
Vend does not operate its payment processing network and instead relies on third-party services such as PayPal, Square, and CardConnect.
You can choose from a variety of hardware options or use your current setup. Vend has bundles available, and you can use either a Mac or a Windows system.
This POS software works with nearly all credit card processing companies and popular retail apps like Shopify, WooCommerce, and Mailchimp.
Pros and Cons
Pros
- The user interface is simple.
- Works offline (Limited features)
- There are no product limits.
- For small retail businesses, this is an excellent option.
Cons
- When you add more registers, it becomes more expensive.
- The Lite plan has a limit of $20,000 in turnover.
9. Revel Systems — Best Premium
Revel is well-known for its amazing features and dedication to the restaurant industry. However, now that it has evolved, it can also focus on mid-sized retailers.
It’s one of the more expensive POS providers on our list, so it may not be the best fit for start-ups, particularly because its lowest pricing may require a three-year commitment and the purchase of many terminals.
However, Revel Systems POS has a plethora of features that may be worth the expense for larger established businesses.
Its enterprise software is used by prominent companies such as Estee Lauder and Auntie Anne’s, and its enterprise management features make it an excellent choice for enterprises with multiple locations.
Revel Systems offers in-house payment processing, but you’ll have to get in touch with sales to find out more about the rates. It can also be used with other credit card processing companies.
Pros and Cons
Pros
- A safe and comprehensive list of third-party integrations
- Real-time insights and accurate analytical reports
- Affordable pricing plans
- Kiosk functionality
Cons
- Expensive
- The setup process is a little complicated.
10. ERPLY POS — Best For Franchises
If you own a franchise, the ERPLY POS system is the platform to use. It works well on Android and iPad tablets, and it can also be accessed via a browser on other devices.
ERPLY POS is one of the few cloud-hybrid systems that is hardware neutral, meaning it can be used with almost any device. This makes it a favorite among franchise retailers, both small and large.
This robust platform allows you to centralize your inventory across multiple stores and manage employees by giving them different access levels.
With the ERPLY POS system, you have CRM features and the ability to manage sensitive data.
Aside from that, all plans include strong franchise-specific features such as sales tracking, full-scale inventory management, and barcode scanners.
Pros and Cons
Pros
- For one low monthly fee, you get a lot of features.
- Offers more features than the majority of competitors, including some CRM functionality.
- Highly configurable.
Cons
- Its feature set may be excessive for small businesses.
- No 24/7 customer support.
Comparison
| POS Systems | Best For | Price | Best Feature | Rating |
|---|---|---|---|---|
| Square | Overall | $14/mo | Inventory can be tracked | 4.3/5 |
| Lightspeed | Inventory Management | $69/mo | Works with your current hardware | 3.9/5 |
| Epos Now | Hospitality | $25/mo | Built-in CRM | 4.5/5 |
| Shopify | ECommerce | $29/mo | Abandoned cart recovery | 4/5 |
| TouchBistro | Restaurants | $69/mo | Detailed analytical reporting | 3.9/5 |
Conclusion
POS systems are extremely useful for businesses of all sizes. They make the job of running a retail business much easier.
However, larger companies need to pay close attention to the various features offered by different systems to get everything they need.
These top 10 best POS Systems will help you get started on your search for the perfect solution for your company.
FAQs
What is a POS System?
POS System or Point-of-Sale system is a software application that enables retailers to track inventory, handle transactions, and access other vital information about their businesses.
How do I choose the best POS System?
The best POS system for your business can be determined by looking at all of the features offered by different solutions and your company’s requirements.
It’s important to research different POS systems before deciding which one is right for your company.
What are the expected costs of a POS system for a small business?
Small businesses can expect to pay anywhere from $100 for basic solutions to upwards of $20,000 for more robust systems.
These prices will vary depending on the needs of your business.
Amit Gupta is the founder of National Planning Cycles, a company that helps startups, individuals, and small businesses with their financial planning. He has a vast amount of experience in the finance sector, having managed Google Play accounts for some of the world’s most successful unicorns. Amit is an expert in his field, and he uses his knowledge to help others achieve their individual goals.