Accepting these payments also promotes impulse purchases because customers don't have to find the nearest ATM.
Increased revenueĪ POS terminal will prove its worth where you'll notice it most - the bottom line - thanks to these factors:
#Lightspeed onsite cash drawer plus
A POS machine does this - plus accept credit card payments - but you'll enjoy many other benefits. The traditional cash register is a classic example of siloed technology: You can use it to ring up purchases and accept cash or check payments, but nothing else. Some POS systems allow you to use your own hardware, but others require that you buy their proprietary terminals, hand-held devices, and related hardware. A virtual terminal lets you accept payments over the phone or in other situations where a customer's credit card is not present.īeyond the terminal, other POS hardware includes:
#Lightspeed onsite cash drawer software
Overview: What is a point-of-sale terminal?Ī POS terminal is any digital device with POS software installed on it: a computer, laptop, tablet, or smartphone. We'll go over those benefits and how POS systems work, so you can see how adding one would contribute to your small business's bottom line. Point of sale devices offer features beyond accepting credit card payments. As your business grows, though, you're leaving money on the table if you don't have a point-of-sale (POS) terminal to process credit card transactions. When you started your small business, you may have only accepted cash or checks. Not sure if you should add a point-of-sale (POS) terminal to your small business? The Ascent covers the many benefits offered by a POS terminal in addition to processing credit card payments.