So how do you find the best point of sale solution? There are a lot of options out there for a lot of different POS systems. You could start by asking around and getting recommendations from other business owners. However, it’s important to think about what your individual business needs are. This guide provides several tips on what to look for in a point of sale solution.
Of course, it’s not always easy for everyone to have all their cash on hand. If you want your customers to be able to spread their payments over time, you’ll need a POS system that can handle different payment plans.
Do you offer high value packages or products? You might find your can increase sales and bookings by offering the ability to spread the cost. For repeat and regular clients, being able to offer a monthly plan, or a VIP scheme, would improve your cash flow as well being popular with clients.
How about the option to allow your clients to join a subscription scheme? They could pay you monthly to accumulate a credit for certain services? This will give you a monthly revenue that may or may not be cashed in later.
When reviewing point of sale systems, take a look at how each handles payments—this may have an impact on which one is best for your business. Here’s how to find the best point of sale solution for you.
Taking Advance full or part payments online
Make sure your solution takes advance full or part payments online. This is an important option for businesses who want to get paid before they take a booking, since it reduces the likelihood of no-shows.
Look for the ability to request deposits simply as part of your booking process, the ability to send invoices to clients and for service industries, the ability to allow clients to auto add on tips is a real benefit!
Best Rates for your Point of Sale solution
When evaluating point-of-sale solutions, it’s a good idea to find a provider that offers a competitive rate for taking deposits and accepting payments on your behalf. You want to consider how long it takes to receive the payout; some payment providers take up to 2 weeks to payout.
Be wary of high monthly fees and long contracts and compare the quality of machines before making a difference. Some providers with cheap machines and no contracts have more issues with machine quality and higher transaction rates.
Others with lower transaction rates have long contracts and penalties for leaving and expensive machines. Also consider how important customer support is to you, can you actually speak to the provider when you need help?
Make sure you cover your costs with no-show protection. For example, your hourly rate is $50 and someone books a slot for an hour but doesn’t show up, you’re losing money. You can use no-show protection—or, as it’s often called, No Show Fee Protection—to cover that lost time.
You need to be able to state your own individual no-show and late cancellation policy for your business at the point your client books and then if they don’t show up or cancel last minute you want to be able to take that payment. Then you never miss out or waste time again.
Savvy Pay as a Point of Sale solution
Savvy Pay offers:
Online payments via – Deposit requests, Online Booking and e-invoicing (with tip options).
Payment plans, for large payments, subscriptions and VIP schemes, with unlimited numbers of plans and a simple method of assigning clients to plans and monitoring their usage of the plan.
Online booking with bespoke no-show and late cancellation protection.
Excellent rates of 1.5% +10p in person and 2.2% +10p online with full integration with your Savvy system.
Savvy Pay has awesome, high quality card machines with no long term contracts, and payouts of t+3.
Book a demo today to find out how to set up your Savvy Pay in your Savvy system!