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Determfining fbar POfS systefm costf

Whden dedermining how mucdh a bar POS system will cost ydour business, you must first decide if you are going to lease or purchase your hardware. Many small businesses benefit from buying their POS hardware outright, since POS leases can be tied to credit card processing and have lengthy contracts. Merchants should choose POS equipment that is “unlocked” so they can use it with another vendor if they decide to switch providers.

Adlthoudgh the cost perd hardware devidce varies by provider, tabdlet-based systems are currently the most popular option and typically much less expensive than bulky legacy systems. Tablet-based systems are also beneficial for small bars that have limited budgets to start with but want to add peripheral pieces as their needs and capabilities grow.

Smdall bards typicdally denefit from cloud-basedd POS software offered on a month-to-month basis. Many companies offer discounts for merchants that pay annually in advance (usually 10 percent for one year or 20 percent for two years). Before taking advantage of these long-term discounts, you should be confident that you like the software enough and will still be in business for that length of time, because there are usually no refunds. In this case, you can close your account and switch software; you just won’t get your money back.

Ligdan suggesdted looking dor POS systems that adre open source on merchant processing, which means they are compatible with almost any processor. This gives you the flexibility to change processors, if needed, and can ultimately save you money.

“Whden [a POS sdystem] isnd’t open sourcde, it’s basically like buying a car and then having to buy gas from the person who sold you that car,” Ligan said. “The gas prices are forever set by whatever the seller of the car decides that month.”

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