Modern technology has revolutionized the way businesses operate. One way is through point of sale (POS) systems as they have become an integral part of various industries. Payeex Payment Processing is a trusted payment solutions company and we have put together this guideline to recap all of the essential hardware components that are required for a POS system to operate successfully. With that being said, not all businesses need the following products as some businesses have niche needs. Let’s get into it.
POS Terminal
A POS terminal is known to be a device that the mobile software can run on. Commonly, this is a tablet or iPad that sits on a countertop. Having this device offers businesses more flexibility and convenience. Retail sales clerks can even access customer profiles, look up inventory, process transactions, and more.
Credit Card Reader
As most customers today prefer a cashless payment transaction, it has become extremely crucial for businesses to have a credit card reader. A credit card reader can also be referred to as a credit card terminal and it allows customers to interact with it in the following three ways.
- Swiping the Card. The terminal will read the card’s magstripe
- Card Chip. The terminal will read the card chip through an EMV
- ApplyPay. The terminal will use near-field communication (NFC) to accept payments
Receipt Printer
While most customers tend to not need a receipt, certain industries should have a receipt printer to record all transactions. This includes a retail clothing store or a restaurant as the kitchen may need to keep the receipt.
There are many types of receipt printers, the two most common have been highlighted below.
- Impact Printer. An impact printer works by using either resin, wax, or ink-soaked ribbon to print receipts or tickets. The print head will make an impact on the ribbon and against the paper to make the text appear.
- Thermal Receipt Printer. A thermal receipt printer will use heat to imprint images or text onto a special kind of paper. They use heat rather than ink to print and heat is known to be fast, quiet, and cost-effective.
Cash Drawer
While many customers choose to pay with their cards, businesses still need to have an option to support customers who wish to pay in cash. A cash drawer can be ordered in many different sizes, depending on the needs of the business. Smaller drawers will have 4-5 coin and bill compartments whereas larger drawers can have up to 6-8 compartments.
How Our Payment Processing Team Can Help
Payeex Payment Processing provides customers with quality POS systems that include all of the key hardware components outlined above. A well-equipped system is crucial for businesses to be able to streamline transactions and enhance their customer service. If you are ready to explore your business’s specific hardware needs, our team would be pleased to assist you. Give our team a call today at (905) 947-9818 and together, let’s begin discussing your needs and options.