Modern Payment Systems
These checkout systems, also called Point of Sale Systems have enabled everyone – a savvy entrepreneur or craftsman wishing to make a living from their passion, to open a retail store and scale it. Here, we will answer the essential questions about cloud-based point of sale (POS) systems. The abbreviation “POS” (point of sale) refers to any place where a transaction occurs. This is usually around the cash register for retailers, where customers will make a payment in exchange for products or services. But, if you use a Cloud-Based POS system, your entire store can become a point of sale. We will talk about this a little later.
What Exactly Is A Cloud-Based P.O.S System?
The checkout system brings together the software and hardware you’ll use to run your business. It is the tool that will allow you to analyze and order your stock and manage your employees, customers, and sales. Previously, checkout systems were located on-site; that is, they used an on-site server and, therefore, could only work in a specific area of your store.
This is why the desktop computer, cash register, receipt printer, barcode reader, and payment processing system were all on your desk and could not be moved (in any case, not easily). The early 2000s saw the birth of great technological innovation: The cloud. The advent of cloud-based data storage and computing has made it possible to take a new step in evolving cash register system technologies: mobility.
What Is A Cloud Cash Register?
Thanks to the cloud servers, retailers could start accessing their checkout system from any device connected to the Internet, whether it was a laptop, desktop, tablet, or smartphone, to connect to their commercial portal. A mobile checkout system allows retailer to manage their entire business anytime and from any device.
These checkout systems have yielded significant results for retailers. The ability to manage their business, serve customers, and process transactions from any location have helped reduce lines at the checkout and provide faster customer service. The exceptional customer experience that previously only existed at large retailers like Apple is accessible to all. Mobile checkout systems have also opened up countless new sales opportunities, such as opening pop-up stores or sales at trade shows and festivals.
What Are The Advantages of Cloud-Based POS Systems?
- Cash and mobile payments.
- Centralized inventory management.
- Real-time access to sales reports.
- Advanced customer data.
- Employee planning and management.
- Integrated payment processing.
- Business management anytime, anywhere, and from any device.
- Ability to manage customer relationships.
What Hardware Is Required To Set Up A Cloud-Based POS System?
Cloud-based POS systems encompass software and hardware necessary for running a retail business. From orders and inventory management to transaction processing, and customer and staff management, this checkout system is the central platform that helps retailers grow their business.
The equipment required may vary depending on the activity you carry out. Here is a list of the materials that retailers use most often. Note, however, that not all businesses need all of the following:
What are the Main Features to look out for in a Cloud-Based POS System?
- Omnichannel sales capabilities (online and physical synchronization).
- Integrated payment processing.
- Customer relationship management (CRM).
- Inventory management.
- Staff management.
- Management of several stores.
- Advanced reports
- Integrations and additional modules.
- Permanent support.
Which Cloud-Based POS System is Right For Your Business?
The cloud-based Point of Sale system you choose will significantly impact how you manage your business daily and grow your company over the years. While many possibilities exist, we have taken the time to list below the top ten Cloud-Based POS systems currently on the market. Check them out below to find the solution that suits you best.
One of the most well-established Cloud-based POS systems is that operated by Square. The Square POS cloud system is available for both Android and iPhone. Customers consider it the best POS system for small businesses that creates customer profiles, tracks all sales, and purchases the history. It has many other functions, which include the following.
- Square Afterpay
- Square Hardware
- Square Store
- Square API
- Square Business Account
- Square Cash Register
- Square Stand
- Accepts many types of payments
- By operating from the Android or iPhone, you do not have to spend money buying extra hardware
- The system is versatile and flexible, giving many options
- Since it doubles as a credit card processor, there is no need to accept payments by integrating a third party
- Pricing is straightforward, and there are no hidden fees
- All the software is free for download and use
- Makes available real-time reporting and analytics
- The system is easy to use
- You can upload inventory with ease
- The system allows retailers to manage e-gift card transactions on the Square app and Square dashboard
- The Square register and terminal
- Square Reader for magstripe
- Square Reader for chip and contactless payments
The type of hardware you need will depend on the type of retail business you are running. You can use your smartphone and use the square reader for magstripe for just accepting payments. If you run a garment store, a stand-up terminal and register are recommended.
- Square charges 2.6% + $0.10 per transaction
- There are no other fees.
- The bigger the volume of your business, the higher the discount on the fees.
- There is a free trial system available before you decide to purchase
By far, the unanimous opinion is that Square is the best POS cloud system on the market. The customer service is outstanding, but it is also one the cheapest systems with no hidden fees. Most reviews are very positive and recommend the system.
Clover POS is an excellent choice for stores that wish to start placing orders online but already have a website. With an intuitive dashboard and mobile app, you can add online ordering to an existing website. Clover POS has a range of hardware options, including a POS countertop and a contactless payment system — making it easy to run your business.
- Clover receipt paper
- Clover Mini
- Clover Register
- Clover Merchant
- Clover Go
- Clover Station
- Clover Dashboard
- Suitable for online businesses that need a physical presence POS solution.
- Integrates with a wide range of hardware options.
- A free trial option is available.
- The key advantage is that you can mix and match your hardware and software
- Solid reporting tools
- Keeps track of your revenues
- You can filter reports to determine best selling items or busiest hours
- Solid customer support 24/7
- Can set up physical and digital gift cards
- Accepts online payments via a virtual terminal
- It can be integrated with third-party apps like Yelp and Quickbooks
- For a 1% fee, you can also add Rapid Deposit-which gives you access to funds immediately
- Clover All in One system includes all the software, hardware, and payment processing
- You have the option of a Bundle that keeps things simple
- The system is easy to set up and use
Clover is among a dozen companies that have developed an integrated point-of-sale (POS) system with customized hardware to help many retailer businesses. The Clover POS system is available in both server and web-based versions. It offers several countertop hardware options that include contactless payment, Mobile POS services, and much more. The Manufacturers developed the Clover dining POS specifically for restaurants.
You can utilize the Clover POS systems for almost any small business, including restaurants, bakeries, hotels, cafeterias, etc.
The reviews on Clover POS are mixed. There are a fair number of negative reviews concerning the hardware, malfunction of the system, and lack of support. The positive reviews all brag about the system, but one should use caution before purchasing this expensive system in light of the negative reviews. Clover does offer a Free trial.
While the Clover POS system is excellent, it is also one of the most expensive. Plus, there are no free hardware options. Plus, Clover does not offer a free trial, and if you do not like it, you are stuck with all that hardware. In addition, the clover payment processing fee is costly. The payment processing fee can be exorbitant for a business requiring many transactions. Finally, there are many hidden and other fees associated with Clover, which are the main complaints. Clover is known to freeze accounts and add costs without justification.
Take your retail or hospitality operation into the cloud-based digital world instantly with Lightspeed. Benefit from a fully mobile, secure, and flexible digital POS system. As with Square and Paypal, Lightspeed can be quickly downloaded, installed, and made ready to make transactions in minutes.
Built for retail and eCommerce stores, full-service or quick-service bars, restaurants, cafes, and hotels, Lightspeed can handle the busiest establishments. Also, check out the particular software designed for golf courses and clubhouses.
It can access everything from an iPad or mobile phone, so monitoring your business becomes very easy. Unlimited 24/7 support, regular software updates, webinars, demos, and videos are all provided at no additional cost.
- Offers retail point of sale
- The system has flexible payment options
- Robust reporting
- Intelligent inventory management
- Easily integrated into eCommerce platforms
- Has Multiple store capabilities
- If used for restaurants, it comes with multiple menu options
- Ability to function offline
- If used at a golf club, it allows for member management
FREE technical support; the company provides free one on one boarding tutorials. Also, there are videos, demos, and webinars to understand how the system works.
- Cloud-based POS system allows flexibility and mobility
- You can operate the system by installing it on iPhone or IPad
- Cloud mobility permits business management from any geographical location
- A cloud-based system is less likely to be affected by a virus, like the PC; hence the risk of data loss and downtime is negligible
- The company offers robust security
- The system allows for integration with other software like accounting, loyalty programs, gift coupons, etc
The introductory price for lightspeed Retail POS starts at $69 a month. This includes the POS system and lightspeed payments.
The company offers several additional integrations, which come as bundles:
- Basic above package plus eCommerce is $99 a month.
- Standard above package plus eCommerce and accounting is $119 a month.
- Advanced package with eCommerce, accounting, and loyalty is $169 a month.
- Professional package with eCommerce, accounting, loyalty, and analytics is $229 a month.
Anecdotal reports indicate that Lightspeed is a solid company with good management and customer support. The company offers state-of-the-art POS systems that are very easy to use and supported by outstanding customer support. It is ideal for a small retail business.
Beautifully paired Toast cloud-based POS is for high- or low-volume hospitality businesses. They design their handheld technology for restaurants so you and your staff can spend more time keeping your customers happy and keeping a steady flow throughout the day. Tableside ordering and payments and competitive and straightforward flat rates on all transactions make it easy to keep track of your income. No additional fees are ever charged. Access your data from anywhere on earth (with a Wifi connection) and enjoy free 24/7 support with Toast Central. Toast offers professional restaurant team training, interactive webinars, Toast University training, and go-live support if you want to go the extra mile.
- Toast Point of Sale offers efficient cloud-based software, with exotic hardware and payment processing, specially built for the hospitality (restaurant) industry.
- The hardware is spill-proof and will not be damaged from beverage or food spills
- The system is speedy, allowing for faster input of data, resulting in rapid order and prompt payments
- Handheld technology allows for ordering and checkout at the tableside.
- The system also has pleasing aesthetics and can match any decor
- You can access data from any geographical location
- Enables guests to provide instant feedback
- Management, upgrade and change your menu from any terminal, including the smartphone
- It has a real-time inventory app that can track suppliers, vendors, food inventory, prices, and units and prices.
- Help you set up the POS system
- Tailor the POS system to your business
- Offers onsite or remote technical assistance
- Offers webinars on Toast POS system use
- Can set up physical and digital gift cards that can be sold online
- Can integrate a loyalty program into the system
- Can integrate the system with payroll
In general, Toast POS systems are not cheap. The Toast POS software package starts at $79 per month for each terminal. Plus, there is the cost of hardware which is more than $899. Also, if you do not know how to install, an in-person or remote installation fee of $499. Overall, the Toast POS system is one of the most expensive on the market. You can add additional options to the basic plan, but they all cost money. Toast does not have a free trial version- you have to pay for the system first, and you’ll have to take their word that everything will work.
The few reviews state that TOAST POS systems are excellent, efficient, and backed by good technical support. But the universal opinion is that the Toast POS system is one of the most expensive on the market, and its long-term durability is unknown.
To help you manage your online and in-store sales in one place. Shopify designed the Shopify POS app and mobile card readers to allow staff to serve customers anywhere in the store. The Shopify mobile card readers move with your team so you can help customers and check out anywhere in the store. Shopify’s software backend offers all the tools you need to manage your business from anywhere on earth.
Shopify Lite offers everything you’ll need for $9 per month. Start Selling Quickly, Process credit cards anywhere, and get paid fast. Check out the Shopify app store
Generate purchase orders and manage stock, inventory, staff, and more. Shopify’s promise is the ability for staff to assist customers with purchases made at other locations online or previously in store. Its powerful software allows you to collect your customer’s contact details and then tailor-make marketing campaigns for each customer based upon their needs. Shopify offers a fair pricing structure and a sound customer support system. Shopify is one of the most well-known and well-established Cloud POS systems. Shopify has been in the eCommerce business for over 15 years and has established itself as a leader. The Shopify Cloud system will allow the two systems to work without hassles for those already using the Shopify eCommerce platform.
- Allows inventory tracking and updating in real-time
- Has customer loyalty features
- Allows you to accept payment anywhere in the store
- Compatible with both Androids and iPhones
- Has loyalty program and integrates gift cards
- Checkout is customized and also offers mobile checkout
- Accepts partial payments and keeps track of balances
- Shopify has one of the lowest in-person card fees
- The system features Shopify hardware integration
- It comes with both POS software and hardware
- It has a connectivity screen
- Free shipping in case you need to return for POS tools and additions
- Allows tax deductions
Shopify has several systems for customers, but the most basic plan is $29 a month for those starting out. This includes two staff accounts and 2.7% for in-person transactions. Shopify has several other high-tier plans with many additional features that cost anywhere from $79 to $299 a month. The advanced techniques are for retailers with several physical stores. But when starting out, the basic plan should suffice. The advanced system comes with customized receipts, unlimited staff support, in-store pickup, can forecast demands, provides detailed inventory reports, saving cart options, and much more.
Universally, Shopify is one of the best cloud POS systems in the market. Most reviews give it a 5 star for service, product efficiency, and features. While the basic Shopify POS plan is one of the most affordable, the advanced packages are relatively expensive. In any case, for someone just starting in a small retail business, there are overwhelmingly positive reviews that one cannot go wrong with Shopify cloud POS systems.
If you don’t already have a Shopify account, utilize your free trial. Then the app will automatically load up with all the products you sell. Even if you don’t sell online, you’ll still need a Shopify account because this acts as the dashboard of your Shopify POS system.
You’ll be pleased to hear; there isn’t a limit to the number of products you can create. However, there’s a cap on the number of products you can list before your device starts exhibiting performance issues. Also, there’s a limit to the number of locations you can sell from. Flexibility on this largely depends on the payment plan you’ve opted for.
This package is the next level up and costs $29 per month. However, unlike the ‘Lite Plan,’ you’ll get a digital store. When you make a sale online, credit card rates stand at 2.9% + 30¢. Whereas in-person transactions boast the same rate as the ‘Lite Plan.’
This bundle gives you all the same perks as the ‘Lite Plan’ in addition to two staff accounts and Facebook, Pinterest, and Twitter sales channels.
This bundle shoots up in price; it’ll set you back a whopping $79 per month. You’ll get all the benefits of the ‘Basic Shopify Plan,’ however, your credit card rates are far more reasonable:
- Online-store: 2.6% + 30¢
- In-person: 2.5% + 0¢
- Additional fee for external payment gateway: 1.0%
- Five staff accounts
- Professional reports
- Abandoned cart recovery
All in all, it’s a pretty sweet deal!
Vend is a cloud-based POS that has been around for several years. The software is designed for small businesses that offer a wide range of services. Currently, thousands of retailers use Vend POS systems to accept payment, manage inventory, track customers, and run real-time business analytics. Vend offers retailers the latest business tools at a competitive price. Also, The software is compatible with Mac, Pad, and PCs, and Vend POS integrates seamlessly with a wide variety of features and apps. Users may, for example, use Square POS, Shopify POS, or PayPal to add payment processes from third parties onto Vend.
- Suitable for companies of all sizes.
- It works with many hardware and software solutions from third parties.
- Support – 24/7.
- Fast integration of e-commerce.
- Access all business data from any location
- Offers a real-time analysis of the business
- Vend also works offline
- It is easy to use, and staff can train quickly
- Allows logos printed and notes written on customer receipts
- Permits the customer to put items on layaway and will look up the balance
- Tracks returns, refunds, gift cards, and store credit
- All cash movements are tracked, thus lowering the risk of theft
- You can customize the system for use by each member of staff
- Vend is integrated with eCommerce platforms like Woocommerce and Shopify to provide customers with the unparalleled shopping experience
- Connects an online store to Vend without loss of inventory, sales, or customers
- Can track customer orders till delivery
Vend works with most traditional hardware, or you can purchase a hardware bundle to ensure that it is Vend compatible. Vend provides solid technical and customer support.
The cost of Vend POS system is $119 a month, which is one of the cheapest packages available. Other packages are available depending on your business needs. Vend POS does not have a free version but does offer a free trial.
The overall sentiments are excellent. Most users think Vend is the ultimate POS system for a business. The company has a product that is effective, fast, and reliable. Plus, there is solid customer support. There is a general feeling that Vend is perhaps the best cloud POS system on the market. The other advantage of using vend is that you do not need to purchase a hardware bundle as it will work with what you already have. A free trial version is available to help you decide if this is the system you need.
Revel Systems‘ cloud-based POS and platform offers the flexibility to run your business your way. One of the significant benefits of cloud-based systems is that you can instantly access all of your necessary data anywhere you can access the web, no matter where you are on earth. Revel Cloud POS systems are a significant player in the restaurant business. They cater to small businesses and offer multiple terminals and several locations for operation. Revel cloud POS is a fast and secure system with numerous in-house features that integrate seamlessly with various partners specializing in inventory tracking, payroll, customer management, and social media integration. You’ll be able to manage your employees, customer interaction, and inventory using a POS platform tailored to your needs. Revel Systems’ larger customer-facing display is popular with guests and creates a better user experience at the checkout. Its self-serve kiosks promise to increase the speed of service and reduce errors. Robust and secure, Revel’s POS software updates keep you in the loop with the latest updates and technologies. Your data is secure with encrypted (P2PE) payments and PCI-compliant cloud technology.
- Offers moderate data analysis that track order history, hourly sales, product mix, payment summary as either a report or a graph
- Provides a good loyalty program and gift cards
- Allows for mobile ordering and barcode support
- To increase transparency, there is a customer display system.
- Customizes menu
- Has tools to streamline the kitchen function
- There is also an employee management feature that streamlines paperwork and labor operations.
- Real-time tracking from any device
- Solid Table management feature that allows for faster and more efficient service
- It comes with cloud security.
- Good customer relationship management program that helps engage customers.
- The restaurant owner can control user access.
- CRM features permit capture of customer order history and payments
- Revel does provide support via live chats, training videos, and over the phone.
- The system is integrated with 3rd party partners like Quickbooks and Apple Pay.
The most basic Revel Systems starts at $99.00/month. There is also an installation fee of $649 if you want it installed. Outside of the basic features, there are fees for many other applications. Sadly, Revel is not transparent here; these fees only appear in the bill. Because none of these fees are spelled out, you’ll need to ask before you sign on the dotted line.
Plus, hardware is not included with the package; you may have to lease through Apple Financial Services. Revel does not identify hardware pricing.
Revel Systems does not offer a free version or a free trial. You only find out if you like the system after you pay for it
ShopKeep has emerged as very affordable and offers many added features that will help you boost your bottom line. Many businesses are discovering Shopkeep POS from retail stores to restaurants, hotels, to food trucks. Shopkeep has a package that will work for you. Known for its powerful inventory management and easy-to-navigate user interface, ShopKeep’s BackOffice software, integrated with your existing hardware and coupled with the ShopKeep Pocket mobile app, you can manage your business from anywhere on earth. Keep track of critical inventory, sales, performance stats, and other critical business information from your phone or tablet.
- Shopkeep hardware
- POS Shopkeep
- Shopkeep pricing
- Shopkeep Lightspeed
- Shopkeep eCommerce
- Shopkeep Card Reader
- Shopkeep Credit Card Reader
ShopKeep promises a fast setup with your existing hardware and offers 24/7 365 customer support if you need help. ShopKeep also offers a customizable interface and register layout, Accepts all forms of payment, and offers the lowest rates guaranteed.
Shopkeep is another innovative Cloud POS system ideal for many small businesses. Shopkeep is secure, iPad compatible, intuitive, and has affordable software features that provide retailers with a more innovative way to run a business. Cafes, retail shops, restaurants, and bars, shopkeep is widely used. The system permits the user to print or email receipts, open the cash drawer, and accept cash or credit cards. Some of the features of Shopkeep Cloud POS systems include the following:
- Optimizes inventory and staffing needs
- Obtains customer data, sales reports, and type of purchase
- Freedom to select your credit card processors
- It features a customer relationship management program
- Integrated Time clock and employee management
- Permits email or printed receipts
- All sales are reported
- Can accept credit or cash
- Compatible with iPhone and androids
- Scans barcodes
- Can be integrated with Bigcommerce, Mailchimp, Preferred payments, Quickbooks, Clear spider and comply
- Solid customer and technical support via video tutorials and phone
- Paper
- Networking
- Labels
- Barcode scanners
- Printer
- Ipad enclosure
- Cash drawer
Shopkeep does offer a starter kit for the iPad, which starts at $800. The complete Quick service setup is around $1,500. There is a 12-month warranty on the hardware.
The most basic system starts at $49 a month, but if you want more features geared towards your business, the cost will likely run between $70 and $100 a month. This deal will feature advanced reporting, analytics, and unlimited users. This fee does not include the hardware-Shopkeep cost has not divulged the cost of hardware, but since the system is iPad and iPhone compatible, you may not need much else, save for a printer and cash drawer.
By far, the majority of users are happy with shopkeep. The overall feeling is that the customer service is excellent, and the system is easy to use. However, it may be slightly more expensive than Clover or Square Cloud systems.