The article describes about the different POS systems which can be recommended to clients. The best one can be chosen based on the requirements.

VEND

Advantages

• Strong inventory management, multi-store, and reporting tools.
• Compatible with Windows and Mac computers, and iPads.
• 24/7 customer support.

Disadvantages

• Payment processing through third-party providers.
• No free POS software.
• Mobile POS system for iPads only.
• Not ideal for restaurants or service-based businesses.

Monthly software cost

$89 for Lean plan ($69 if billed annually). $149 for Standard plan ($119 if billed annually). $269 for Advanced plan ($199 if billed annually).

plans and features

Vend offers four versions of its POS software: Lean, Standard, Advanced and Enterprise.

Lean plan features

Lean is the lowest-priced plan and offers the following:

• Locations: Limited to a single location. Additional locations require a plan upgrade to Pro.
• Registers: One register per location is included and extra registers can be added.
• Customer support: Receive access to 24/7 customer support via phone, live chat or email.
• Dedicated account manager: Set up and use support from a person assigned to your account.
• API access: Gain access to the application programming interface, or API, to create custom solutions for your business.
• Cloud backup: Store and account information is automatically backed up to the cloud. You can also export your data at any time.
• Integrated payments: Integrates with most payment processors and accepts credit cards, contactless payments, mobile payments, gift cards, layaway and buy-now-pay-later.

Standard plan features

The Standard plan offers the core features available with Lean as well as accounting and e-commerce channels. Vend integrates with numerous apps including accounting systems QuickBooks, Xero and MYOB, and e-commerce platforms BigCommerce, WooCommerce and Shopify.

Advanced

The Advanced plan includes all the features of the Standard plan, plus:

• Loyalty features: Customers can earn dollars toward purchases, increasing retention and insights.
• Advanced reporting and analytics: An analytics suite helps businesses understand their sales, customers and profit sources
• Serialization: Allows you to generate and assign serial numbers to specific items sold, making them easier to track for warranty purposes.

Enterprise

The Enterprise plan includes all the features of the Advanced plan, plus:

• Customized onboarding: Receive custom launch services for multi-store operations along with training for your team.
• Premium API access: Gain access to Vend Workflows (premium APIs that allow you to customize your point-of-sale).

Payment processing costs

Vend does not offer its own payment processing service. However, the company is owned by Lightspeed, which does offer payment processing services. Its fees are:

• 2.6% plus 10 cents per in-person transaction.
• 2.6% plus 30 cents for manually keyed transactions.

You can also choose a compatible payment provider, or you may be able to use your existing provider (if you have one). The processing costs will depend entirely on the payment provider you work with. Regardless of the third-party processor you choose, Vend will not charge transaction fees on top of the rates that you pay your provider.

If looking for a very cheap one, an alternate solution will be Square.

Drawbacks of Vend POS

Expensive software costs

Compared with POS alternatives, Vend has a high starting cost. And if you want to add another register, it will cost an extra $59 per month — or $49 per month, if billed annually. The entry-level plan also has some notable limitations, including no access to e-commerce channels, accounting integrations, loyalty programs or premium API aceess.

Some retailers, such as smaller businesses and those just starting out, may not be able to afford Vend and might instead consider a competitor with a free software option such as Square.

Payment processing is not included

Vend doesn’t offer its own payment processing service, so you’ll need to find a third-party provider to accept customer credit card payments or use Lightspeed Payments for Vend, which is offered by its parent company. Although this may benefit businesses that already have a relationship with a payment provider, those that don’t will have to go through the process of finding a compatible provider, getting credit card terminals and integrating with the Vend system.

SQUARE

Monthly fees:

• $0 for the free plan.
• $29 for Square Plus.
• $79 for Square Premium.

Hardware:

• $0 for Square magstripe-only card reader ($10 for each additional) or if using Tap to Pay for iPhone (iPhone not included).
• $49 for Square Reader contactless and chip card reader.
• $149 for Square Stand iPad POS or Square Stand Mount (iPad not included).
• $299 for Square Terminal mobile card reader with built-in printer.
• $799 for Square Register two-screen system.
• $659-$1,479 for various bundles of stands, cash drawers, printers and card readers.

Payment processing:

• 2.6% plus 10 cents for in-person transactions.
• 2.9% plus 30 cents for online transactions or invoices without a card on file. If you have the Premium plan, this drops to 2.6% plus 30 cents.
• 3.5% plus 15 cents for manually keyed transactions or card-on-file invoices.

Square is a versatile POS system that can be a great option for retailers, restaurants and service-based businesses. The POS software is free and integrated payment processing is included. The platform has strong inventory management tools, a highly customizable checkout and a range of reporting options. You can also integrate the POS with a variety of third-party apps or add on other products and services it offers, such as an online store, payroll software, and a loyalty program. However, add-ons such as loyalty and marketing cost extra. Also, it’s not compatible with Windows desktops and tablets.

Pros

• Transparent, flat swipe fees.
• First magstripe credit card reader is free; free plan available.
• No fees for early termination, PCI compliance, chargebacks or setup.
• Versions available for retail, restaurants or professional services; offers inventory management, table and menu management, multi-location setup, online orders and appointment scheduling.
• Live support available by phone, instant message or email.
• Subscription fees are generally month to month and easy to cancel if needed. You also have the option to pause your subscriptions for up to three months.

Cons

• Loyalty program and email marketing features cost extra; appointment-booking for more than one person is an additional fee.
• Ability to create and print barcodes isn’t available on free version.

Lightspeed Retail POS

Monthly fee:

• $89 for Lean plan ($69 if billed annually).
• $149 for Standard plan ($119 if billed annually).
• $269 for Advanced plan ($199 if billed annually).

Hardware: Quote-based. Contact Lightspeed sales department for more information.

Payment processing:

• 2.6% plus 10 cents per in-person transaction.
• 2.6% plus 30 cents for manually keyed transactions.

Lightspeed, the parent company of Vend, also offers a POS system for retail, restaurant and golf businesses. Its POS offers strong inventory management features, 24/7 customer support and a range of third-party integration options. Unlike Vend, it includes integrated payment processing, offering flat-rate pricing through Lightspeed Payments with all plans.The platform also starts at a lower price point and includes one-on-one onboarding, a dedicated account manager and additional free training within that price. But Lightspeed POS still may be expensive for smaller businesses or those just starting out, and access to accounting integrations or e-commerce tools require you to upgrade.

Pros

• Transparent, flat swipe fees; other payment processors are available to use with your POS system if you don’t want to use the in-house option.
• The only unexpected fee you could see on your statement would be $15 for chargeback, if applicable.
• A comprehensive inventory management system to keep detailed records of your products across multiple locations and set automatic reorder points so you don’t run out.
• The restaurant POS features an adjustable floor plan, easy-to-edit menus, multi-location management and reports showing peak times and employee performance.
• 24/7 phone support is available in the U.S. Chat and email support are also available.

Cons

• No free plans are available.
• Loyalty, e-commerce, accounting integrations and analytics features are included only on more expensive plans.
• If you cancel your subscription, you’ll immediately owe the remaining installment fees in your plan, if any apply. Prepaid annual and monthly fees are nonrefundable.

SHOPIFY

Shopify’s POS system is well-equipped to handle all the complexities that come with selling items via an online store. In all subscription tiers, you can set up an online shop and add products almost instantly, sell through multiple channels including social media, connect with vendors, automatically email customers who abandon their carts, process payments at reasonable rates and make sales in 133 currencies and multiple languages. These features make Shopify one of the best retail POS options.

Pros

• Transparent, flat swipe fees.
• E-commerce-friendly features, including access to vendors and resources to build an online store from scratch using this platform; drop-shipping, curbside pickup and local delivery options.
• Ability to automatically email customers who abandon carts and don’t complete purchases.
• Tracks inventory, hides out-of-stock products and offers inventory analysis.
• Plans are month to month and easy to cancel if needed; you can also upgrade or downgrade them at any time.
• You can “pause” your store for three months with no subscription fee or “pause and build” for a reduced monthly fee.

Cons

• Must pay separately for a Shopify e-commerce plan.
• Live support is available only via chat, not phone.
• Additional transaction fees apply if you don’t use Shopify’s in-house payment processing.