For business people operating in the online space, Payment processing remains a fundamental aspect that you cannot do without. Thanks to quick surfacing tech, the payment processing industry now boasts of a range of devices and solutions merchants can use to take payments from their customers. Yes, the list is long that it can be overwhelming.
That said, one significant difference you need to familiarize with is the discrepancy that lies between Credit card terminals and Point-Of-Sale Systems (POS). Let’s find out what makes a credit card terminal unique from the point of Sale terminal?
Credit card machine
A credit card machine, just like its name suggests is exclusively meant to help the business owner to process credit cards. However, depending on your terminal there is an option of connecting it to process gift cards or a check-reader, but most are designed for swiping credit cards, period.
Point Of Sale System
A POS is more or less a new-age one-in-all payment processing solution. It has a variety of highly developed features. The point of sale essentially helps you manage your business and not only process payments or transactions. Fully equipped Point of Banking systems should integrate the following functions to meet all the user’s requirements:
- Credit card processing
- Cash-drawer management for sales in cash
- Receipt printing
- Managing worker time clocks
- Reporting and analytics
- Inventory tracking
- Barcode scanning
What’s best for my Business?
You can always go for your solution of choice depending on your type of micro-business and methods you deem fit for receiving client payments. If you merely want to get started on taking cards hen a credit card terminal is just the right remedy for you. But those looking to get more solutions in a single system should consider a point of sale system.
Excellent POS Solutions
Merchant service providers choose POS systems based on their business structures. And in most cases, they go for usually one of the two great POS systems in the market. However, there’s a relatively new remedy known as Clover solution. This has a cloud-based system that’s fully customizable ensure merchants run their operations securely and efficiently. What’s more, you can either go for the Clover go, Clover Mini or Clover Mobile to enjoy excellent premium payment processing as well as simple business management.
Now you can draw the line between a credit card machine and a POS system. Remember, whatever is right for you will depend on your company’s requirements.
Author Bio:Electronic payments expert Blair Thomas co-founded eMerchantBroker, serving both traditional and high-risk merchants including those looking for a Point of Banking. His passions include producing music and traveling.