We’re a cutting-edge financial technology company encompassing point of sale, payment processing, and so much more, including our in-house processing platform, Cygma®.
Modern payment and point of sale technology for all types of businesses
Partnership programs custom-built to your needs and situation
Browse educational articles, EPI news, and case studies to learn more about payment processing.
January 14, 2021
When it comes to the basics of running a small business, few tools will help you more than a point of sale (POS) system. That’s why it’s key to understand exactly what a POS is and the benefits it offers. In the article below, you’ll discover the definition of POS as well as the components that make up a system. You’ll also learn about the advantages of a POS and which POS features are important for the seamless operation and growth of your business.
POS simply stands for point of sale. It’s the place where a customer completes their transaction, such as paying for a purchase. At its most basic, a POS is comprised of hardware and software. Hardware is the electronic equipment used to perform a transaction while POS software is used to manage sales and day-to-day business operations.
An essential part of any enterprise, a point of sale is critical for many tasks beyond accepting payments. Whether it’s managing inventory, tracking employee performance, pulling sales reports, or determining the best way to market to customers, the right POS makes operating a business faster and simpler.
The hardware components of a POS system can vary based on your business needs. Typically they include a:
All-in-one terminals, like those available with Exatouch® POS, are touchscreen monitors that run POS software enabling a business to conduct transactions.
A secure place to store cash and coins that your business needs to operate.
Scanners make checkout fast and easy so you can get customers on their way quickly.
These machines enable your business to accept swipe, contactless, and EMV chip card payments.
While you may want to email customers receipts, many shoppers still prefer a printed receipt at checkout. A printed receipt also gives you a clever place to advertise upcoming sales—or even the availability of gift cards and loyalty programs.
Label printers make it easy to print shipping labels and even shelf tags when you need to update pricing on the fly. They’re also handy in printing customized name labels, ensuring customers receive their correct items.
For operations from yogurt shops and delis to craft supply stores and shipping outlets, a weight scale is an integral part of everyday business. When scales are integrated with your POS system, it ensures fast transactions and consistent, accurate pricing.
PIN pads, tablets, mobile card readers, and customer-facing displays are examples of peripherals that can be added to your POS bundle, depending on need.
Point of sale systems streamline operations by providing quick and seamless payment transactions as well as tracking critical business data. It’s a vital component to growing your business. Equipment such as barcode scanners, weight scales, and touchscreens make checkout a breeze for your customers and staff. Moreover, a POS system’s host of features and applications enable you to track sales and identify patterns over time, ensure pricing and inventory accuracy, and catch potential discrepancies. You can even monitor inventory and trends to help you avoid stock-outs, provide better customer service, and tailor marketing offers.
A POS system helps you complete business functions and provides insights that enable you to make more informed decisions. A leading point of sale can assist you with:
There are countless options when it comes to POS features. That’s why it’s important to make sure the technology suite you choose has the POS features your business needs to successfully operate, expand, and grow. Exatouch POS includes:
You can read more about Exatouch’s extensive features, capabilities, and applications on our Knowledge Base. Plus, it’s all backed by our in-house, U.S.-based Technical Support team who’s available 24/7.
Whether you want to install your first POS or are looking to upgrade your current system to match your business’s evolving needs, there are some telltale signs it’s time to make the move.
If any of these issues are slowing your business down, you’re not alone. Check out success stories of merchants just like you who were able to overcome these common setbacks after partnering with Electronic Payments.
Schedule a free, personalized demo today!
Omnicommerce increases your reach while improving customer experience. Learn how an omnichannel s...
Are you ready for the holiday rush? This can be the busiest—and most lucrative—time of year for ...
Prepare your store for the holiday season with these consumer insights—featuring top data points ...
The average consumer spends $59 more than the original value of their gift card. (First Data)
Gift cards are a great way to increase sales and boost customer loyalty. Try using these marketin...
Subscribe to our blog and we'll keep them coming!
We'll deliver new posts right to your inbox as soon as they're published. Stay tuned for ongoing tips, advice, and strategies you can use to grow your business!
Have you ever felt that your concerns were not heard? Or your needs were not met? Or you were let down? Or, have you been overly impressed? Pleased with a tech support call resolution? Or had an awesome experience with one of our sales representative, ISO Offices, or Relationship Managers?
It can sometimes be difficult to get an answer or a sensitive ear for an issue you may be having. Or, you may just need help reaching the right department. Who handles paper shipments? Who programs my equipment? What if I don't like my sales rep? How do I reach your CEO? Sometimes, it just helps having a direct email address which goes to a person that can "get the job done."
The Ombudsman is a position at Electronic Payments that is your conduit to the proper channels and persons that can field your request, answer your need, and receive your compliment. Fill out the form below and we'll try our very best to assist you as quickly as we can.
Comments, compliments, criticisms and problems... Please don't hesitate to let us know!
"*" indicates required fields
We're human, promise! And your issue is important to us. While this is an auto-response, a real human has received this email and will direct it to the right department so you can get the attention necessary to help with your request. We'll be in touch soon. In the meantime, here are several avenues of help we offer:
Technical Support Help Desk (24/7):(800) 966-5520 Option 3
Merchant Support Center:www.merchantsupportcenter.com
Customer Service (M-F, 9am - 6pm EST):(800) 966-5520 Option 4
POS Help Center:help.exatouch.com
Talk to you soon,The Electronic Payments Team
Copyright© Electronic Payments, Inc. All Rights Reserved
Electronic Payments is a registered Independent Sales Organization of Wells Fargo Bank, N.A., Concord, CA and Commercial Bank of California, Los Angeles, CA.Electronic Payments is a Registered MasterCard© TPP
American Express may require separate approval.