For example, you can pay 2.95% for in-person payments or 3.40% for online payments. The transaction fees for in-person payments cost less than the online payments. These are estimated fees based on your business’ monthly turnover.
Basic POS software can start at R450 per month.
Monthly subscription – As part of your subscription you get access to a Point of Sale (POS) application and business intelligence portal which gives businesses real-time access to sales insights and analytics, and more features depending on your package.Speed Point Card Machines start at around R4999 a rental can cost around R400 per month. A card machine allows businesses to accept both credit and debit cards and to generate digital receipts for customers. Device costs – Brands offer the option of either renting or purchasing a POS device.This feature will allow your business to track inventory across multiple venues (stores). Loyalty programs can provide insight into customer product preferences and shopping behaviour. Use loyalty programs to reward regular customers. You can also generate sales reports, set up automatic low inventory alerts, and manage order packing and shipping. This can all be done via cloud-based solutions such as SOS Inventory. With an Inventory Management system, you can stay well-informed of purchases including the resale items and the fulfillment of a customer’s order. Make sure you keep track of every single item in your inventory. This feature can offer tracking capabilities and can be integrated with other platforms. Gift cards can be used to attract new customers. This feature on POS systems can help track the discount management process. Offer discounts to help improve cash flow by encouraging new clients to buy or reward loyal customers. You can also send them receipts via email. You can also give customers the option to become part of your business’s email list to get updates on specials and other marketing information. Use this feature on your POS systems to create customer profiles, save their contact details including their email addresses and phone number. You can also integrate this feature within your accounting software. Data can also be used to predict how and when your customers buy products to plan effective sales strategies and ultimately decide on a sales forecasting process. The data you receive from reports can accurately assist you in achieving your business’s goals.
You can also manage staff with access-controlled logins and make use of the analytics and reporting with exporting functions. Industry-specific POS systems help you with product management, categorisation and inventory control, as well as enable you to run customer loyalty programs and promotions. This also ensures the security of each transaction. To ensure smooth processing of payments choose a third-party company to handle the transaction of debit and credit card payments by customers.
Most card readers work with both Apple (iOS) and Android devices and only need a mobile device and an internet connection to work. The hardware is paired with a Point of Sale (POS) application and business intelligence portal which gives businesses real-time access to sales insights and analytics. This is done through a card reader which connects to an Android/iOS smartphone or tablets. With POS systems in South Africa businesses can accept card payments. Point-of-sale (POS) systems have changed how business transactions are made and have cut down on the fees that SMEs have to pay.