What are the best point-of-sale hardware options for your small business?

Explore the concise payment journey within a POS upon card swipe. 📋 PaymentFlow in a POS: Card Swipe: Reveals Issuer (e.g HSBC) and Network (Visa/Mastercard)>>Transaction Initiation:Stripe POS sends encrypted data to Visa>>Issuer Notification: Visa alerts HSBC about the $100 transaction>>Risk Assessment: HSBC assesses risk; if approved, instructs Visa>>Transaction Approval: Visa notifies Stripe POS, displays "Transaction Success">>Amount Transfer: HSBC transfers funds to Acquirer (SBI) via ACH 📊 RevenueShare: HSBC(Issuer):High risk,cut=2.15% Visa(Network):Med risk,cut=0.15% SBI(Acquirer):Med risk,cut=0.15% Stripe(POS):Low risk,cut=0.05% 💸 NetDeduction: 2.5% 💰 MerchantReceives: $97.5 = (100-2.5)$ Spot the Issuer & Network in your 💳 :)

In the bustling retail sector, Mobile & Tablet POS [MTPOS]play a pivotal role in mitigating customer churn caused by long billing queues. Picture traditional checkout line snaking through a store, testing customers' patience. Long queues as a significant factor influencing their decision to abandon a purchase. Enter MTPOS. Deploying these systems empowers retail associates to assist customers anywhere on the sales floor. For instance, a clothing store utilizing Mobile POS allows staff to swiftly process transactions during fitting room interactions, reducing wait times. However Tablet POS at-least for Indian Markets are a fancy tool over Mobile POS. Even though it gets to help customer feedback much better & faster. Eg. Decathlon :)

T2 & T3 the next market for AIOPOS in India: Lets get one thing clear "Not all retailers need AIOPOS". It's costly, heavy, difficult to maintain, and heavily sophisticated. Retail with heavy stock keeping & inventory focused on customer experience should deploy All-in-one-POS (AIOPOS). Eg: Smart Bazar / Big Bazar, Decathlon, Spenser's, Mainland China, BBQ Nation etc. Now what's the upcoming market location for AIOPOS? It's the T2-T4 city. The next gen malls are gonna come up in T2-T4 of India and not on urban land. So enterprise sales folks reach out to every mall & retail chain owner to know their T2 - T4 penetration plans. Reshma starting up with his food cart near an office location, needs only a Mobile POS not AIOPOS :)

A POS system is basically a computer with a touchscreen that allows a business to take payments either by card or cash. Clover has apps that can be purchased to help in managing your business along with taking payments. Companies such as TOAST and Square sell equipement and provide credit card processing. The downside to buying a POS system from these companies is that if you want to switch card processors you have to buy a new POS system. Be sure to read and understand the POS companies contract BEFORE signing! Once you have signed the contract you are obligated to whatever the contract stipulates. Also understand there is no FREE equipement, the processing company will get the cost of equipement back through charging additional fees.

Why mPOS Hardware, it should be mPOS mobile application on any phone. QR and mobile apps using UPI are best options to collect payment with no cost

Kiranas THE market for Mobile POS in Indian retail? In Indian context Mobile POS may sound a "Cool" thing for Kiranas but the truth is: it isn't. The market is still Mid (eg: Arun Lala, Manufacturers etc)- Large Enterprises (eg: Bata, Smart Bazar). Arun Lala of Gujrat is a Suit-Cloth-Manufacturer. He uses MPOS as a "no-excuse-quick-pay" solution so that every time he visits distributers they fail to use the excuse "I can only pay using credit card, don't have cash now, so next month I will keep cash ready" Lalita who owns a small momo stall and uses Paytm UPI QR, shall not want Paytm MPOS as she doesn't want the customer to pay using Credit Card, but just UPI. As in Credit Card, she revives a 3 % deducted amount for a small check :)

Arun Lala of Gujrat is a Suit-Cloth-Manufacturer. He uses MPOS as a "no-excuse-quick-pay" solution so that every time he visits distributers they fail to use the excuse "I can only pay using credit card, don't have cash now, so next month I will keep cash ready" Lalita who owns a small momo stall and uses Paytm UPI QR, shall not want Paytm MPOS as she doesn't want the customer to pay using Credit Card, but just UPI. As in Credit Card, she revives a 3 % deducted amount for a small check. So ask yourself which set you fit more: Arun Lala who shall not mind, paying a 3% fee to receive his payments on time given that his check size is large and in time cash flow is vital OR Lalita whose check size is small, and UPI is good enough for her :)