Accepting payments via digital means doesn’t always mean using a bank or a fintech company’s app. There are more ways to accept digital payments than UPI or net banking.
If you own and run physical stores, you must be accepting money via different ways such as cash, cards, and QR codes. Before digital payments disrupted cash and card-led payments, old-school cash registers and card swiping machines were quite the rage.
Over the years, as digital payments caught up, point-of-sale (POS) machines have become quite popular among retail stores.
These machines have evolved a lot and can be used to accept money via more ways than just swiping cards.
If you want to learn more about POS machines and how they can help grow your business, read on.
What is a POS machine?
A Point-of-Sale (POS) machine is a culmination of hardware and software innovations that come together to process payments via QR codes and credit/debit cards.
From its earlier avatars, POS machines have now been handling more tasks than ever. This machine that used to accept just card-based payments can now process payments via:
- Cards that have a magnetic strip
- Cards that have an embedded chip
- Without having to enter a 4 or 6-digit PIN
- Payment apps by scanning a QR code
What are the different types of POS machines?
There are various types of POS machines in the market. Each of them is suitable for unique business needs and budgets of different merchants. Let’s understand in brief these POS machines and how they differ from each other.
Interesting Read: Upgrade Business Operations With The Paytm all-in-one POS machine
- SIM-based POS machines
This is one of the oldest POS machines that in its heyday used to require a telephone line to set up the connection. In its most recent form, it can work via GPRS-enabled SIM cards.
While these POS machines are quite pocket-friendly, they are heavy, have basic payment functions, and have a small screen size.
If you are not in a position to spend a lot on POS machines, you can consider this.
Mobile POS or mPOS is the sleekier version of SIM-based POS machines. Since these devices are wireless, they are portable and can be taken anywhere.
In terms of connectivity, mPOS is compatible with GPRS, 3G, Bluetooth, Wi-fi, and USB cables. It also accepts cards that are powered by near-field communication technology.
If your business deals with a lot of doorstep payment collection and you don’t want to deal with cash, mPOS can be your friend.
- Android-based POS machines
These are one of the most advanced POS machines as they run on the Android operating system. These devices are centred around giving your customers a seamless payment experience.
Just like mPOS, Android POS devices are wireless and portable. They come with a large screen size, which makes them easier to operate than GPRS POS. Since it comes with an integrated scanner, you can even scan the barcodes of the product, which will help in billing. It’s a bit costlier than the previous versions.
Benefits of Paytm All-in-One POS machine
If you are looking to upgrade your POS machine or want to get a new one, Paytm has you covered.
Laced with several features and technological upgrades than what is available in the market, the Paytm All-in-One POS machine will solve all your payment problems. It comes packed with all the billing and payment needs that your business will need.
Our POS machine has pan-India coverage, partnerships with all banks and brands, and round-the-clock customer support.
Here are the advantages of Paytm All-in-One POS machine:
- Powers all payment methods
You can use Paytm All-in-One POS device to start accepting money from your customers no matter what type of card they want to use. Right from debit and credit cards to pre-paid cards, Paytm All-in-One POS machine is capable of processing payments from all payment modes.
Even if customers wish to pay via Paytm Wallet or cash, this POS machine can handle all types of payment.
- Integrated billing management
Keeping up with our ethos of going the extra mile, Paytm All-in-One POS machine is built to carry out more functions than its primary objective of processing payments. You can scan the barcodes on your products, and details like quantity, price, and the product name will reflect in the bill.
Paytm All-in-One POS machine makes your life simple as the cashier doesn’t have to manually enter product details. Since it comes with an in-built scanner and printer, you can use the same device to add products by scanning items, print GST-compliant bills, and accept payments via any payment method.
- One-window reconciliation
One of the major advantages of using Paytm All-in-One POS machines is that you can manage all the transactions from one single app.
You can simply use the Paytm for Business app to reconcile payments from all payment methods. This way, you will have a clear picture of your settlements. With Paytm All-in-One POS machines, you get the benefit of one-day settlements on working days.
- Customised POS solutions
Paytm All-in-One POS machine is capable of customising solutions based on your needs and industry-specific problems. We have tailored offers for industries like retail, hotel and restaurants, ticketing, etc. Specific loyalty and reward programs can be offered to customers using the Paytm All-in-One POS machine.
Interesting Read: Difference Between Barcode and QR Code
You can rely on this POS device to track your sales performance and track inventory from the device itself.
- Special bank offers
Paytm has partnered with more than twenty banks to enable you to offer your customers special offers or discounts on the purchase of high-ticket items. If you sell products that are usually expensive, you must have had customers who would decide not to buy the product at the last minute.
With Paytm All-in-One POS machines, you can offer customers an easy EMI payment option, which will take away the burden of paying the whole amount in one go. In addition to EMI-led payments, your customers will also have the option of paying via Paytm Postpaid.
- Store management
Paytm All-in-One POS machine is not just a tool to accept money via cards and QR codes, it is packed with features that enable you to manage your whole store from the device.
You can track every payment, and its source, as well as manage inventory, suppliers, and your CRM. When you don’t have to use multiple tools or software to solve every problem, it becomes easier for you to run the business.
Paytm All-in-One POS machine is built in a way that it takes care of all your business needs. If you require assistance with anything related to the device, Paytm provides a dedicated relationship manager to every merchant.
If you are already using a POS machine and are looking to get a Paytm All-in-One POS machine, you can integrate all the existing partnerships and software into your new Paytm All-in-One POS machine.
Frequently Asked Questions
Question: How many types of POS machines does Paytm have?
Answer: You can choose between three different varieties of POS machines. They are All-in-One POS, Smart POS, and Linux POS.
Question: Do I have to purchase QR code for my shop separately even if I buy one of the POS machines?
Answer: All the three variants of the POS machines have the capability to produce your shop’s QR code. Additionally, all POS machines have an in-built printer and barcode scanner.