Compare Point of Sale Systems

• Cost (initial and ongoing). Cost is obviously a primary consideration when choosing your EPOS solution. However, working out the actual cost of your choice can be more complex than it first appears. Your total outgoings will likely be split into the following categories:

- Upfront equipment cost. The hardware you need depends on the type of business you run. Typically it will comprise a visual display unit such as a tablet, a card machine, a receipt printer, and a till for cash. The cost of a basic card reader starts at around £30 but for a complex card machine this can rise to as much as £1000.

- Equipment rental. Alternatively, you may pay a monthly rental charge for the physical equipment.

- Software fees. You may also be charged a recurring fee for the software associated with your EPOS.

- Payment processing. Some EPOS providers require that you use them to also process your payments, while others will leave you free to use a processor of your choice. The choice you make is important as transaction fees can vary significantly between different merchant service providers. For more information, read our guide to Merchant Services Providers.

- Setup costs. Finally, you should remember to include any setup costs involved in getting your system up and running. These might be more difficult to estimate - for example, you should make sure that you consider the man hours involved in installing your system and training your staff in its use.

• Functionality. You’ll want to make sure that your EPOS hardware can take as many different transaction types as possible. At the very minimum, it should be able to accept both Chip and PIN and contactless payments. In addition, you should think about NFC payment types such as Apple Pay. Remember, too, that American Express transactions are treated differently - if you’re in doubt about these, check with your provider.

• Interoperability. It’s important that your EPOS solution ‘plays nicely’ with your other software. It may be that you’re using separate accounting software such as Sage or Xero. Make sure that your EPOS software is compatible with any other solutions you’re running.

• Additional software extras. Finally, it’s worth thinking about the huge range of additional extras that are now available with EPOS software. For example, it’s increasingly common for EPOS providers to also offer things like loyalty schemes, which can be particularly useful if you’re running something like a coffee shop or bar. Remember that these extras can pay dividends in the long run, so make sure you understand what’s on offer.