EPOS Features Checklist

Are you ready to choose?

 

If you want a checklist of all the things you want your hospitality EPOS systems to do, which you can peruse – here it is.

 

Otherwise, give us a ring! Then, we can begin to suggest which softwares have the best features in each category; and the features you need to start your business.

 

 

Read Next: Choosing Payment Processing

 

Payments 101

 

Read an introduction to payment processing.

 

Payment processing is the final, and most important, function of an EPOS system. In addition to the software you choose, you need to buy payment processing separately, which you may need to integrate with your software.

 

There are two things to consider with payment processing. Do you want your payments integrated or non-integrated? Or do you want them to be contract or pay-as-you-go?

 

Non-integrated payment processing is the type you often see when you go to a restaurant. If there’s a group of you waiting to pay, a waiter might come round and take your individual payments one by one, typing the amount into a card reader each time. This means you enter things twice; once into your card reader, and once into your EPOS terminal.

 

In contrast, integrated payments is when you’re cuing the exact price through the till. You press a button (“bananas”) and then another (“pay by card”) the price automatically loads on the card reader ready for the customer to pay. This is much faster, and except in the case of restaurants, we’d recommend integrated payments.

 

Then, pay-as-you-go versus contract:

 

Contract is the traditional way of taking payments.

 

Contracts are provided by traditional processors. You’d rent an older-looking card machine made by a manufacturer like Verifone or Ingenico for around £15 per month; and your contract will be with a provider like Worldpay, AIB, or Bluebird. Your rate would normally be different for different cards, and would exist in a “percent plus” format, such as 1% + 2p per transaction. The contract normally lasts for two years and could need buying out of if you want to leave. You’ll also need to undergo identity checks.

 

Pay-as-you-go is a new type of payment processing contract.

 

A pay-as-you-go provider such as iZettle, Sum Up, Square, or some Barclaycard options will charge a flat percent on every card transaction before the money enters your account. You would buy your card reader outright from them – which will usually work out much cheaper than the rental fees of traditional processors. The card readers are the newer-looking ones. They would charge a flat percent such as 1.75% on every transaction, and you can start or stop taking payments whenever you like.

 

Overall, we’d expect that pay-as-you-go will be cheaper for merchants with average transaction size of less than about £6, such as coffee shops; or who turn over less than £6K per year. Otherwise, a processing contract would be cheaper – but you may still prefer the flexibility of pay-as-you-go.

 

Which you choose will affect the action you need to take:

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  Pay-as-you-go Contract

Integated Check you payment and EPOS providers are integrated – then set up the integration through your EPOS Call us and ask about a payment application, which is the connecting bit of software you'll need. This could be a discrete fee.

Non-integrated Use pay-as-you-go processor and any EPOS software. Just buy the card reader, and begin! Use the cheapest traditional processor and any EPOS software. You'll need to undergo some credit checks before you can accept card payments, and it will take around a week.

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If you’re using a traditional processor, we’d recommend executing a bidding process. What does this mean?