By now, you’re already familiar with what a POS (point of sale) system is. For most retail businesses today, the POS system is what enables you to manage store inventory and staff, check out customers, accept payments, and route those funds to your bank account. It’s your retail store’s mission control.
But a POS system’s features vary from one provider to another—and so do the costs. How much does a POS terminal and hardware cost? What about the software? Are there payment processing fees?
Shopping for a POS system can feel tedious. With hidden costs, setup fees, and unclear pricing, it’s not always easy to know exactly what you’re signing up for.
POS systems come with both fixed and variable costs, and the price will vary depending on your provider, your business type, how many stores and employees you have, and the features you need.
Before you decide which POS is right for you, let’s go over the factors that influence how much they cost.
How much does a point-of-sale system cost?
Depending on the POS system provider, pricing can start as low as $0 and climb upward of $230 per month for small businesses with one POS terminal. For larger businesses, the costs can get into the $1,000+ range, depending on which features they need, how many stores they have, and how many terminals they need.
Pricing varies from one POS provider to the next. Some offer free subscriptions, paid subscriptions with more advanced features, or custom pricing on a business-by-business basis. If the POS provider offers integrated payment processing, they may also charge a fee per transaction.
Transaction fees are an important variable cost to be mindful of. Some POS systems with integrated payment processing charge a percentage, a flat rate fee, or a mix of both. Depending on the types of payments you accept and how many transactions you process through your POS system, this will change your monthly costs. – Read more
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