The Best POS Systems of 2024

Businesses relying on stodgy, old cash registers risk turning off customers with slow checkout processes, confusing product catalogs, outdated payment methods and a lack of loyalty incentives. Consumers today expect a seamless purchase experience, with both in-store and e-commerce shopping opportunities, digital wallet compatibility and discounts for their repeated patronage.

Fortunately, the best point-of-sale (POS) systems on the market are equipped with the tools businesses need to process sales quickly, track high-selling products and retain customers with inventive loyalty programs. Whether you opt for a retail-specific solution like Shopify, a restaurant-focused setup from Toast or a versatile system with Clover or Square, today’s POS programs modernize the selling process to drive revenue and growth. After testing both leading products and lesser-known offerings, we determined the best POS platforms for a variety of small businesses.

Modern POS systems, like this one from Clover, include top-of-the line terminals, card readers, customer-facing displays and handheld devices. (Source: Clover)

The more advanced your terminal setup is, the more you’ll pay in hardware costs. (Source: Lightspeed)

When you invest in a POS system, you’ll typically incur three primary costs: a one-time hardware fee, a monthly or annual software fee and a payment processing fee. Here’s an overview of what you can expect to pay for each expense.

• Hardware: The average cost for POS hardware is $799, but you could spend up to $1,500. The exact price depends on how many registers and accessories you need. If you already own point-of-sale hardware, you could save money by choosing a POS provider that allows third-party hardware integrations.
• Software: Software plan costs range from free to nearly $400 per month. You may have to pay for a higher-priced plan if you have many users, need to track a lot of inventory or want multiple add-on services.
• Payment processing: The payment processing fees range from 1.5% to 3.5% per transaction. The fees often vary slightly based on whether the transaction is in person or is a card-not-present transaction, such as an online payment.

Today’s POS systems go beyond ringing up sales — the software can also facilitate customer loyalty programs. (Source: Toast)

The right POS features will make it easier to run your business and streamline your operations. Here are some features you should look for when choosing a POS system.

Payment Processing

Most businesses begin looking for a POS system because they need a way to complete customer transactions. Many POS providers go beyond accepting credit cards and debit cards, allowing you to take online and contactless payments. In the process, you’ll receive detailed insights about your daily sales, so you’ll always know how your business is performing.

Inventory Management

Basic POS systems may support only a product catalog, while others have POS inventory management features that allow you to track inventory at the component or ingredient level. Some plans include purchase ordering and vendor management features to simplify your reordering process. Consider whether standard inventory tools will be sufficient or if you’ll need advanced features to keep your business well stocked.

Customer Management

Customer management features vary among POS systems. Some allow you to capture basic information, such as your customers’ email addresses so you can build an email marketing contact list. Other POS systems are CRM-enabled, with features that let you generate CRM metrics and create customer profiles, including contact information, purchase histories, preferences, birthdays and notes.

Loyalty Programs

To ensure a loyal customer base, you must reward your best customers. A POS system enables that with built-in loyalty tools. The top POS systems can collect information about your customers’ shopping and dining preferences and help you design customer loyalty programs and rewards programs around that data. You can customize rewards based on how frequently customers shop at your store and the products or services they purchase.

Employee Management

You can usually onboard your employees to the POS system and manage their access to various features and information. Some systems have role-based access controls, while others let you customize the controls for each worker. We like platforms that have built-in time clocks, which let your employees use the POS system to clock in and out. Others can let you schedule shifts, track individual employees’ sales and manage tips.

Reporting

All POS systems can generate POS reports. However, some have only basic report functionality with preconfigured reports and limited customization. Others are advanced with dozens of reporting options and filters to help you analyze data for your sales, inventory, customers and staff. The best POS systems provide real-time reports you can access from any device with a browser or mobile app. Before you purchase a POS system, ensure that it offers the specific reports you need to run your business efficiently.

Add-Ons and Integrations

POS systems typically have many features, but the offered packages may not be enough for your small business. That’s where add-ons and third-party integrations can help. For example, you may want to integrate your POS system with the best credit card processors, high-quality accounting software and top marketing platforms. Or you may want to use a specific email marketing service or offer a customer loyalty program from a specific provider. The best POS systems give you many integration and add-on choices so you won’t be limited as your business grows.

Customer Support

While not a feature per se, you should be able to contact your POS provider around the clock to receive help with the system when you need it, even if your business keeps irregular hours or you’re working on the weekend. Look for a POS vendor you can easily reach via your preferred communication mode, whether by phone, email, live chat or social media. The best companies offer 24/7 support.

Among the advantages of using a POS system with robust reporting functionality is the ability to dive deep into your sales data. (Source: Shopify)

The best POS solutions do much more than let businesses accept customer payments. With a combination of modern-day hardware technology and increasingly smart software, your company can use a POS platform to attract and retain customers, capitalize on business intelligence and even track staff performance. Below are a few of our favorite POS system benefits.

• All-in-one system: A POS system allows you to manage various aspects of your business from a single platform. You can track sales, inventory, customers and reports from your POS application without needing multiple software programs.
• Cloud-based software: Most POS systems are hosted in the cloud, which means you can access your data from anywhere and complete customer transactions on the go. Cloud-hosted systems also bring more reliability and efficiency than on-premises solutions.
• Advanced features: Many POS systems boast advanced features, like inventory management, e-commerce functionality and customer loyalty programs. These features allow you to provide better and more personalized service for your customers.
• Mobile payments: The most advanced POS systems offer mobile compatibility through apps that can be installed on tablets and smartphones, converting them into portable POS terminals. Retailers can utilize these mobile checkout devices to process customer transactions from any location, and restaurants can use them to take orders and process payments at diners’ tables.
• Reporting features: The data your POS system collects will give you details on how your business is performing. Along with your general sales data, you can see detailed information about your customers’ buying habits and identify your best-performing employees. These metrics should inform your business decisions.

When choosing a POS system, businesses should consider whether they only need standard features or advanced tools like invoicing. (Source: Square)

The best POS system for your business will depend on your business type and the specific features you need. Here are three steps to take when you’re evaluating POS systems and choosing one for your company.

1. Conduct market research.

The first step is to research the POS products currently available on the market. You can use online guides like this one to compare and contrast different options. It’s also a good idea to browse user reviews and customer comments on third-party review sites and the Better Business Bureau website. Based on your research, identify the platforms that best meet your organization’s needs.

2. Contact vendors for demos.

Once you’ve done your initial research and narrowed your search to a few companies, reach out to each vendor to ask for a product demo. You should also sign up for any free trials to test the software. Ensure the POS system setup process is straightforward so you don’t get bogged down with implementation.

Remember to consider the unique circumstances of your business when trying each solution. The best POS system for restaurants will offer different features than the best POS system for retail, for example, so think through how this software will impact your team’s day-to-day workflow. Will there be a learning curve? Do you need a lot of integrations or API access to make the system function as you wish? Does the provider offer hands-on customer service? The answers to these questions should help you further narrow your list of options.

3. Evaluate pricing.

Once you’ve done the demos and explained to each company what you’re looking for, ask for quotes from each vendor. Compare what each package includes and see which product gives you the most bang for your buck. Ideally, at this point in the process, you can determine which POS system best meets your business’s needs at a cost you can afford.

While we’re confident our top recommendations above can meet your company’s POS needs, we understand you may want to know what else is out there. We tested and evaluated a number of other solutions and found some notable strengths in the POS systems highlighted below.

Lavu

Similar to Toast, Cake and TouchBistro, Lavu is another restaurant-specific POS solution suitable for food and beverage businesses, ranging from fine-dining establishments to nightclubs to ice cream shops. This cloud-based iPad system can include terminals, self-order kiosks, a kitchen display system and more. We’re particularly fond of the software’s dual pricing feature, which allows businesses to set one price for customers paying by cash and another price for those using credit cards. Cash discounts can incentivize diners while offsetting your credit card processing fees, so this is a smart tool to have.

Helcim

Helcim provides credit card processing services while also offering POS features and tools through its integrated app, terminal and card reader. We love that Helcim doesn’t charge a monthly subscription fee, giving businesses free access to its POS software. As a payment processor, Helcim also eschews monthly fees. Instead, you’ll only pay for interchange-plus processing rates. With a virtual terminal, online checkout and invoicing in addition to the in-person POS hardware, you can accept payments in a multitude of ways.

GoDaddy

GoDaddy may be best known for offering custom domains and websites, but it’s also a great POS solution for those who want to set up a site, accept customer payments and track sales. Every plan includes a website builder, custom domain and detailed website and marketing analytics. If you purchase one of the advanced packages, you can also access gift cards, discounted shipping and promotional features. Note that the system doesn’t integrate with third-party payment processors, so you’ll have to use GoDaddy Payments.

CardConnect

CardConnect is a merchant services provider that offers virtual terminals for a browser-based POS system, as well as a mobile credit card app, CardPointe retail terminals and Clover hardware for a robust physical setup. With this combination of tools, businesses can ring up sales anywhere and feel secure knowing CardConnect has built-in features for fraud protection, PCI compliance and other security measures. Payment processing costs are based on interchange rates that are optimized with each transaction. We especially appreciate the integration with QuickBooks, allowing you to streamline financial recordkeeping and accounting processes.

ePOSNow

Epos Now is one of the best POS systems for businesses concerned about ease of use. The software is intuitive; it should take your staff less than 15 minutes to learn how to use the platform, meaning you’ll save on employee training costs. Plus, you’ll receive one-on-one onboarding when getting started. Epos Now offers excellent hardware options, including a touchscreen POS system, a handheld POS option, receipt printers and cash drawers. You can add the hardware you need to create a custom solution for your business. Epos Now also integrates with various third-party products, giving you many options to adjust the system’s functionality to your liking.

Revel

The Revel POS system is ideal for retail and restaurant businesses wanting to focus on multilocation growth. With an open API, you can customize and scale the cloud-based software to serve multiple sales channels as your company expands. Thanks to the “Always On” mode, we love that this solution can process sales even if your internet is out, while the vendor’s “payments agnostic” approach gives you the freedom to work with the payment processor of your choosing. You’ll also find tools for inventory management, employee time tracking and loyalty programs.

POS systems have come a long way since the early days of retail. No longer is a POS system just a register, cash drawer and credit card swiper. These days, they are multifaceted solutions that enable you to manage various aspects of your business from one platform. In 2024, POS systems will likely offer advanced AI-driven features and provide tools that help businesses optimize operations and gain data about their customers.

As POS systems change, we expect to see expanded automation abilities. Vendors are regularly rolling out software features that let you set up automated workflows for inventory management, payroll, reservations, orders and payments, freeing your staff to focus on other areas that may require more attention. Automation can be an effective solution for streamlining processes and maximizing efficiency.

We’re also noticing more POS systems offering self-service options for customers, especially restaurants. Customers can order online and pick up their food without ever leaving their vehicles. They can also use self-serve kiosks to order and pay, and even pay their bill right from their phone. Meanwhile, POS systems that cater to e-commerce companies are offering more ways for businesses to sell their products online via social media, and this trend will continue in 2024 and beyond.

For both online and brick-and-mortar businesses, we expect AI to play an increasingly important role in POS software. Predictive AI can perform functions such as flagging suspicious transactions and recommending products to stock. Another valuable feature is AI-controlled dynamic pricing that adjusts product prices in real time based on supply and demand.