If you are opening a new store and this is your first business, you may be wondering what types of currency you should accept and how to take payments. Your point of sale system is an integral part of your business because it processes the payments for the sale of goods. Here are three types  of point of sale systems that can help you get your business off the ground and see it into the future.

Plug-In Card Readers and Mobile Apps

You have a couple of different choices for plug-in debit and credit card readers and their accompanying apps. Each of these card readers does require a mobile app download, but the process is quite straightforward from there. The card reader plugs into your earbud port on your mobile device and you need to open the app to process a payment. If your customer wants to pay with a check and not with a debit or credit card, you can manually enter this information into the app and the payment will be accepted too. 

Banking Apps and Instant Deposit

Banking apps now have the ability to capture check images and process payments for you. You will need the app to link to the bank where you have your business account. Open the app and select "Remote deposit" or "Deposit a Check." The app will ask that you take photos of the front and back of the signed check (your signature or business stamp has to be on the back too). Once submitted, the check may be processed right away, or it may take the same number of days typically needed to process the check if you had deposited it at a bank.

Dial-up POS Systems

Another start-up option for a POS system is a dial-up device. These machines take the customer's payment, dial up the number associated with the card's distributer, verify that there is enough money in the account, and then accept or deny payment. The machines require a phone line, so unless you do not mind your main business line being tied up once in a while you can start with a single phone line. If you can afford it and would rather not have your main business line tied up every time a customer pays with a credit or debit card, then ask your phone company to install one line for the phone and a separate line just for the POS system. Contact a business, such as the Schmaus Cash Register Company, for more information.