Should Your Business Buy or Lease EPOS Software?

1. Should Your Business Buy or Lease EPOS Software? Point of sale software is the basic need for any business. It enables to accept payments from customers securely for the items they buy. Due to the cost of the software which is out of reach for a start up or budget challenged business. But there are many options available for businesses such as leasing the equipment and cost included into your monthly fee. It is important to research and find the best one that fits your business environment before making a different epos options for your small business. Purchase Many businesses shy from purchasing epos system due to its price. However this option could save your money of your businesses relationship with a credit card processing company over the life time of your business. It may require signing an agreement with the provider for a long term contract or paying a termination fee with leased equipment. Some companies allow you to purchase equipment that doesn’t work as well as you’d hoped.. Businesses that can gather the up-front money to purchase epos system hardware may be better off in the long run and can skip a higher monthly payment. Businesses who have their own POS terminals can take them to another provider depending on whether or not your equipment is compatible with its software. If you lease the terminal you will be forced to either purchase new equipment or find another provider who can offer affordable rates with a lease. Lease Businesses choose to lease due to affordability which is one of the top reasons. For a start up business, it is easy to pay small monthly fee rather than a large up-front payment. The extra money can be put into growing your business. You can also see a tax advantage in leasing as you can claim your amount spent each year rather than amortizing it over multiple years, as will be required in a purchased system. Benefit of leasing equipment is that you’ll be automatically get the technology updates. Many existing lease found that the upgrade was provided for free as a part of their lease agreement. final decision. We have listed some

2. Tablet Based In recent years businesses have found affordable to purchase equipment up front. POS setups are available that can work with a smartphone or tablet, allowing businesses to accept payments in their stores on the go. Having the right accessories businesses can set up an in store POS that operates similarly to a traditional POS system. Some businesses save additional money by using their existing tablets to connect to a payment processor’s software. The main advantage is to have portability and instead of having cash stationed at a specific spot in a store. POS can be moved to different areas in the store as demand fluctuates. Multi location businesses can share equipment between storefronts and dismantle them to take advantage of remote selling opportunities. Employees can accept card payments throughout the store thus reducing queue lines and also accepting payments at conferences and other events with the help of card readers. Epos system is needed by every business to accept payments. The right epos software is needed and also important to choose the right hardware to fit your own businesses needs. By having knowledge on all of the options helps you make the right decision whether you opt to buy, lease or use the hardware you already have.