Nowadays, there are many different types of POS solutions available on the Canadian market.
The issue is, it can be difficult as a business owner to know what type of POS system would be the best for you. After all, businesses vary in size, scope, category, revenue, profit and many other ways. There’s not a one-size-fits-all POS solution.
That’s why it is essential to know what your needs and objectives are, and what you want to gain from your POS system. After answering these essential questions, you can then assess the various POS solutions in Canada to get the best for yourself.
Types of POS Terminals
Let’s talk about types of terminals first:
- Countertop Terminals
- Wireless Solutions
- Integrated POS Systems
- Virtual Terminals
- Web-Hosted Systems
The countertop terminals are, of course, good for collecting payments at a counter. They connect via ethernet or dial-up and are very simple to use. Some machines can be integrated with a POS software.
What is it good for?
Countertop terminals are mostly found in businesses such as restaurants (where you have to pay at the counter), corner stores, clothing stores – basically any store/restaurant that requires the customer to pay at a counter.
There are 3 different types of wireless solutions. One works with Bluetooth connection; one that works with a SIM card (Bell, Rogers or Telus); and one works with Wifi terminals. Which of these wireless solutions is best for you will depend on your needs and budget.
One of the options works with Bluetooth (Ingenico ICMP). This is a good solution if you have a small/part-time business and you don’t want to deal with having a big terminal. Bluetooth terminals are also a good solution if you sell items from anywhere and need to be able to take payments no matter where you are.
The wireless terminal with a SIM card is a good choice to be able to sell from anywhere. It even takes payments even outside of a store (or even inside a store if you’re a restaurant who makes their clients pay at their seats). This isn’t the ideal solution, however, if you live in an area where cellular connections are not too great.
With Wifi terminals, you get the newest kind of solution that looks incredibly modern. Not only can it take payments from anywhere as long as you have a wifi connection, but you can integrate it with POS software (for example, when using the Poynt terminal); it can even be integrated with a cash drawer/kitchen printer. Wifi terminals are a solution convenient for restaurants, or even for retail with some functions having tools helping you with inventory and much more.
Integrated POS solutions
Integrated POS solutions are not terminals, but they are complementary depending on the business you own.
These POS systems can go as far as a self-ordering kiosk for your customers to enter your restaurant and order by themselves.
Does your business frequently take the customer’s credit card information over the phone, then process the payment on your computer?
If so, virtual terminals are an effective solution. With a virtual terminal, you use a web-based application to enter credit card details manually. It’s a safe & secure POS system that’s far more reliable.
Web-Hosted Systems, on the other hand, are what we call E-commerce. Whenever you go online to buy clothing, food, technology devices or anything else where they take payment online, these companies are in need of a web-hosted system to accept payments.
Examples of Business & The Right POS Solutions for Them
Now that we’ve gone through the core POS systems, let’s take a look at some practical applications of how specific businesses can benefit.
Here are 2 examples of businesses and what their needs might be:
The Small Pizzeria
Being a small pizzeria with only a few tables in the restaurant while focusing more on delivery means you need two types of terminals, depending on your preference. Most restaurants set up this way to have a countertop terminal to allow the customers who dine in or pick up their food pay. They also have a few wireless terminals depending on the popularity of the business that would be used for delivery.
Any kind of retail store can use a countertop terminal paired with a POS system called Talech for inventory. There are also some terminals like the Clover or the Poynt which gives you access to inventory, but it is very limited/not the best depending on how large your inventory is. In other words, the person who best understands your business needs is you. You are the leader of your business. The best way to make sure to make the right decision on a POS system is to think of all the things you’d want to do with your terminal, where you are located and what type of business you own.
Ask an Expert About the Right POS System for You
Still not sure which POS system is right for your business? It is always a good idea to speak to a professional who could answer all your questions and recommend the best solution for you.
At CPOS, Canada’s leading POS provider for small & medium-sized businesses would love to answer your questions and help you find what fits your business! Contact us today to find out more.