42 Best POS Machine in 2021

What is POS Machine?

A POS machine is a great way to process customer and vendor payments via multiple sources and keep a record of those. While some businesses work entirely on the basis of detailed purchasing contracts with vendors, others have to manage transactions individually. They need to deal with cash, cheque and card payments on a day-to-day basis to make and record sales.

The point of sale machine is a combination of tools that enable you to streamline all business processes associated with sales. Further, the setup of the POS machine at your store is likely to vary from others depending upon the payment methods you accept and the way you record sales.
If we get back to the basics, a Point of Sale machine is a computerized replacement of cash registers, as store owners can manage their sales & transactions electronically. 

Who Needs POS Machine?

Both new and established businesses chose to invest in a POS device to boost efficiency. Advanced reporting and sales transaction features make the system totally necessary for any business which has to manage transactions, contacts and inventory items. Retail merchants and owners of restaurants, supermarkets, pharmacy or any other store view it as the one-stop solution to manage online and face-to-face payment.

How to Use POS Machine?

A store may have one or more POS terminals depending upon the need. Usually, every Point of Sale terminal consists of a receipt printer, a card sweeper, a barcode scanner and a cash drawer. All Point of Sale terminals is connected to a single server, creating a central record of all transactions occurring at a store. There is almost an endless number of equipment that can be added to a point of sale terminal to meet your store’s unique needs. Once the POS device has been set up in combination with all essential tools, the person managing the check-out counter just has to scan an item and all related data will be stored automatically at the main server. Also, the price of every item starts reflecting on the screen as soon as the price tag is scanned via a barcode scanner. The inventory status of your store can also be updated automatically when an item is sold, exchanged or returned.

Components of a POS Machine

The point of Sale systems consists of different components and hardware which work together towards ensuring smooth sales transactions and inventory control. You can buy different POS hardware individually or in combination. Here’s a guide to understanding the functions of different POS components.

Barcode Scanner

A Barcode scanner is a flat glass placed near the cash register, which is used to capture the bar code of every item with a laser beam. Most of the bar code scanners are handheld, allowing the counter person to scan every item conveniently irrespective of their size or weight. A bar code scanner is a handy tool for tracking inventory status as well. It deciphers the information about every item and updates the inventory database on POS software.

Cash Drawer

The cash drawer is an essential peripheral of any card swipe machine. It is where cashiers often store receipts, notes, coins, and other paperwork. While buying the POS software, look for a sturdy option that can withstand constant opening and closing. Also, it should not open manually but when programmed to open via digital commands. This is important to prevent pilferage at your store.

Receipt Printer

You have different options for the POS printer, such as serial dot-matrix printer and thermal printer. Serial dot-matrix printers usually cost less initially but Bluetooth thermal printers are faster and quitter to use. Whichever model of POS printer you choose, make sure that related supplies like receipt paper or printer ink and ribbons are always in stock.

Label Printer

POS label printers are used to deliver labels and barcodes on demand. Merchants across different industries, such as food service, manufacturing, and pharmacies use a POS printer for ticketing, source labeling and more.

Customer Pole Display

Though it’s optional, customer pole display is a great way to ensure transparency in transactions. Customers can view transaction totals along with the amount offered. You can also feed customized messages on the customer pole display, depending upon your store needs.

POS Computer

POS computer or CPU is the main component that runs the POS machine. Your POS computer can either have a standard operating system or pre-loaded proprietary software to run the machine. Higher the processing power of your CPU, the faster will be the transaction speed.

Signature Capture Devices

Some signature capture devices work well with credit and debit cards along with gift cards and other loyalty programs. Using the card swipe machine, you can make transactions more streamlined and reduce the costs associated with unnecessary paperwork.

POS Monitor

When it comes to the POS monitor, you can opt between Flat-panel LCD monitor and CRT monitor. However, LCD monitor consumes less space compared to the other option.

Keyboard

If you have not opted for the POS monitor with a touchscreen facility, you need to buy a keyboard. POS keyboards vary in terms of complexity and features, with some of them coming with special functions. Depending upon your store needs, you can buy the standard 101-key model or industry-specific POS keyboards.

Basic Functions of POS Machine

Are you still in doubt about investing in the latest POS machines? Here’s a list of POS functions that will propel you to invest right away.

Streamlined Accounting & Reporting

POS machines help in eliminating any unnecessary step in data entry and makes all sales-related data available at your fingertips. With streamlined reporting, every information will be readily available to make decision-making easier. Also, sales transactions through all possible mediums, be it net banking, card payments or via cash can be tracked and managed with the POS machine. So, no transaction detail will fall through the cracks, as details related to item price, discounts, mode of payment, etc. will be stored at one location. 

Perpetual Inventory

POS device also helps in staying up-to-date with the current inventory level in your store. You can monitor the orders coming in and the sales going out so that your inventory level is up-to-date. This can also help in saving costs by ordering products only at the time when you need those at the store, considering the current sales statistics. With the ‘Just in Time’ ordering pattern, your cash will no longer be tied in excess inventory.

Physical Inventory Management

POS machines can be useful in physical inventory management too. You can count the items in your store physically and compare it with your perpetual inventory status available on the POS machine. This way, you can better track lost or misplaced products.

Payment Gateway

With a dynamic payment gateway, you can accept payments through credit/debit card at your store. Also, transactions can be performed across websites and mobile applications, ensuring faster and hassle-free payment with complete ease for the customers.

Customer Relationship Management

There is more to a successful business than managing transactions. It’s about fostering a relationship with customers and a POS machine can help with that. POS system allows you to track the purchase history of your customers and predict what new products might appeal to them. Also, customers’ purchase history assists in identifying their needs, and you can design loyalty programs accordingly to ensure repeat visits.
Mobile Point of Sale: Mobile-friendly POS machines enable collecting payment from customers at your store directly via mobile. Just ensure that your POS device adheres to the EMV (Pin & Chip) guidelines and PCI-DSS standards to promote transactions via net banking, Visa/ Master cards.

POS in the Hospitality Industry

The POS machine’s functions are not confined to managing transactions. It can also be used to handle other complex tasks in the hospitality sector like printing tickets for the kitchen crew in restaurants and tracking serving tips, catering charges and so on. Also, you can set recipes for standard dishes, and as soon as an order for a dish is placed, you will get to know how it affected your ingredient level.

List of pos machine manufacturing companies in India

• Sunmi V1
• Sunmi T1
• Airpay Mobile POS
• Posiflex Jiva XT-2614Q
• Rugtek POS Printer (RP80)
• NGX Billing Machine (Bill Star)
• Nukkad Shops
• Snapbizz turbo
• Mswipe Wisepad
• Rugtek Cash Drawer (CR410)
• More Related Retail Pos Machine, Distribution & Logistic System Software
• Retail POS Software
• Retail ERP Software
• Invoice Billing Software
• Retail Billing Software
• Barcode Scanner

POS Machine Cost