The struggle to find an affordable yet effective POS solution is all too familiar. This is true whether you’re a mom-and-pop shop or a budding entrepreneur. Picking the best cheap POS system takes scrutiny, research, and trial periods.
Luckily, we’ve curated a comprehensive list of the top budget-friendly POS systems tailored to your needs. This post will guide you through finding the perfect POS system that won’t break the bank.
5 Best Cheap POS Systems – A Quick Look
- Square POS: Best for cheaper monthly rates.
- Loyverse: Best for mPOS tablets and smartphones.
- KORONA POS: Best for low processing fees.
- Toast: Best for affordable restaurant software.
- Shopify POS: Best for reasonably priced eCommerce integration.
#1. Square POS: Best for Cheaper Monthly Rates
Square POS overview
Square is an attractive option with a free subscription and a streamlined interface.
It offers accessibility to startup businesses with low initial investment and financial burden for merchants.
Pros
- Payment options
- Range of features and integrations
- User-friendly interface
Cons
- High processing Fees
- Less hands-on support
Square POS Pricing
Retail Free
$0/mo 2.6% plus $0.10 for most transactions
Retail Plus
$89/mo per location
Key Features
- Square offers a $0 subscription; clients pay as they go through processing fees.
- Inexpensive hardware options, including their free magstripe reader and low priced contactless and chip readers.
- Many small businesses can use Square without expensive patented terminals or upfront hardware investments.
Pros
- Payment Options
Even basic Square hardware allows businesses to accept payment through various methods. These include credit cards, debit cards, mobile payments (like Apple Pay and Google Pay), and contactless payments. This enables businesses to cater to a broader range of customer preferences.
- Range of Features and Integrations
Square’s free POS software comes with limited inventory management and eCommerce integration. Paid subscriptions offer a wider range of features like sales analytics, customer relationship management (CRM), and employee management tools.
- User-Friendly Interface
Square POS offers an intuitive and user-friendly interface, making it easy for employees and customers to navigate transactions. With simple touch-screen operations, businesses can streamline the checkout process and reduce training time for staff.
Cons
- Payment Processor Fees
One downside is its payment processing fees are higher than other merchant account providers. This can be problematic for some vendors with higher transaction volume.
- Less Hands-On Support
Square’s support regarding setting up new vendors is relatively lean. While this may not be an issue for many merchants, retailers with more complex needs may require more help.
Pricing
Square has three main pricing tiers:
- Free: The simplest plan with essential features and the highest processing fees.
- Plus: A more advanced plan with more robust inventory, employee management, and other tools.
- Custom: Square offers individualized pricing plans for businesses with over $250K in sales, Custom plans include advanced features and negotiated rates.
#2 Loyverse – Best for mPOS Tablets and Smartphones
Loyverse POS overview
Loyverse stands out as an excellent POS option due to its free subscriptions tailored for vendors utilizing tablets.
This feature effectively minimizes startup costs allowing businesses to invest their resources elsewhere
Pros
- Solid integrations
- Good customer service
Cons
- Add Ons Cost More
Loyverse Pricing
Loyverse POS
$0/mo
Loyverse POS + Add Ons
$59/mo
Key Features
- Designed to work on iPads and Android tablets.
- Quick and easy cashier training on the tablet app.
- A strong native loyalty program helps retailers retain customers with ease.
Pros
- Solid Integrations
Loyverse integrates with apps for accounting, eCommerce, digital receipts, and more. These tools enhance its versatility and utility for businesses of all verticals.
- Good Customer Service
Reviews for Loyverse customer service are mostly positive. Feedback is generally good concerning response times and troubleshooting help.
Cons
- Add On Features Can Cost More
Unsurprisingly, not all features are free. For example, employee management, advanced inventory, and integrations cost a bit extra per month.
Pricing
Loyver is free to use for basic set up.
From there, users can add on employee management for $25/mo, advanced inventory for $25/mo, and integration capabilities for $9/mo.
#3 KORONA POS – Best for Lower Processing Fees
KORONA POS overview
KORONA POS distinguishes itself as a top choice for affordability because they are credit card processing agnostic.
Vendors to explore and select the most cost-effective processing rates. This flexibility empowers businesses to adapt to fluctuating market conditions and optimize profitability.
Pros
- Transparent pricing
- Scalability
- Inventory management
Cons
- Not for every vertical
- Learning for all features
KORONA POS Pricing
Core
$59/mo
Retail
$69/mo
Enterprise
Custom
Key Features
- KORONA POS is processing agnostic.
- Retailers can shop around for the lowest processing rates and best services available.
- These lower fees help businesses maintain better profit margins, especially for high-volume vendors.
Pros
- Transparent Pricing
KORONA POS offers straightforward subscription plans without hidden fees or surprises. providing businesses with clarity and confidence in their financial commitments. All customer support is in-house and included in subscriptions. Flexible payment options allow businesses to change their subscription as required, further enhancing affordability.
- Scalability
The cloud-based POS solution enables businesses to expand their operations without physical infrastructure constraints quickly. KORONA POS has a centralized data management system. The platform supports scalability by providing real-time insights across multiple locations or outlets.
- Inventory Management
Efficiently track stock levels, streamline ordering processes, and minimize stockouts. Real-time inventory tracking and automatic alerts empower businesses to make data-driven decisions and optimize their inventory management strategies. Customizable sales reports provide detailed insights into inventory performance. Businesses can identify trends, reduce wastage, and maximize profit.
Cons
- Not for Every Vertical
KORONA POS is not perfect for full kitchen/table service restaurants. In addition, the software does not support clothing matrices for apparel businesses.
- Learning Curve for All features
New users will take longer to acquaint themselves with the software fully. Employees may find learning the extended features a bit challenging.
Pricing
KORONA POS offers a range of pricing plans:
- KORONA Core plan for $59 per month
- KORONA Retail at $69 per month
KORONA POS also offers additional add-ons and module packages for further customization.
Speak with a product specialist and learn what KORONA POS can do for your business.
#4 Toast – Best for Affordable Restaurant Software
Toast POS overview
Toast emerges offers a cheap POS solution tailored specifically for restaurants with robust features.
With transparent pricing and no hidden fees, Toast provides restaurants with predictable costs, enabling better budget management.
Pros
- Solid dining features
- Reporting included in free plan
- Solid inventory management
Cons
- Customer service lacking
Toast POS Pricing
Quick Start Bundle:
$0/mo
Core
$69/mo
Custom Pricing
Custom
Key Features
- The “Starter Kit” option is free to get going.
- Offers an excellent solution for restaurants who want to save on initial investment.
- Intuitive interface for all aspects of running a restaurant operation.
Pros
- Solid Dining Features
Toast POS offers a comprehensive suite of features that benefit businesses and customers. With intuitive order and table management capabilities, Toast streamlines operations, ensuring efficient service.
- Reporting Included in Free Plan
The platform’s robust reporting and analytics tools empower restaurant owners with valuable insights into their performance. These insights enable informed decision-making and strategic planning without breaking the bank.
Cons
- Customer Service Lacking
Many reviews on Software Advice have negative things to say about customer support. Customers mention that you often cannot contact actual service providers.
Price
Toast POS has three tiers:
- Quick Start Bundle: $0/month with limited features and limited hardware options. Offers essential restaurant tools and is recommended for smaller operations like single-location cafes.
- Core: $69/month includes hardware flexibility, customer support, mobile payments, and more.
- Custom Pricing: Ideal for bigger or multi-location restaurants that need more robust management.
#5 Shopify – Best for Cost-Efficient eCommerce
shopify POS overview
Shopify offers an affordable POS system that seamlessly integrates with its robust eCommerce platform.
The “Basic” solution is an ideal choice for startup businesses looking to efficiently manage their online and offline sales channels in one place.
Pros
- 24/7 chat support
- User-friendly interface
Cons
- Processing fees
- Brief free trial duration
Shopify POS Pricing
Basic
$32/mo
Shopify
$92/mo
Advanced Shopify
$299/mo
Key Features
- Lowest tier is a pay-as-you-go option with an affordable monthly fee.
- Cheapest package includes integration with Shopify’s powerful eCommerce platform
- Seamless synching of inventory, orders, and customer data between online and offline channels.
Pros
- 24/7 Chat Support
Shopify POS offers around-the-clock chat support. This 24/7 availability of support enables businesses to address any issues promptly and keep their operations running smoothly. Quickly troubleshoot technical glitches or seek guidance on optimizing checkout processes.
- User-Friendly Interface
Shopify’s user-friendly interface simplifies setting up and managing an online store for users of all skill levels. Its intuitive design allows merchants to customize their storefronts, add products, and manage orders without extensive technical knowledge. Shopify ensures a seamless and efficient experience with clear navigation and straightforward tools.
Cons
- Processing Fees
The most affordable tier has significantly higher payment processing fees than other point of sale providers. The $5/mo “Starter” subscription comes with fees of 5% + 30¢ USD online + 5% + 0¢ USD in person.
- Brief Free Trial Duration
The Shopify POS free trial spans just three days. This is notably shorter than that of many competitors.
Prices
- Basic: $32 USD/month: For startup merchants new to online selling.
- Shopify: $92 USD/mo: Ideal for growing businesses with more complex needs.
- Advanced Shopify: $299 USD/month: Ideal for high-volume vendors looking for robust analytics and more.
How To Choose the Best Cheap POS System
- Assess Your Business Needs
Identify the specific requirements of your business. This may include inventory management, reporting, and customer relationship management (CRM). Remember to consider vertical-specific hardware and applications like loyalty.
- Budget Considerations
Determine your budget constraints and find a cheap POS system that offers essential features without compromising quality. Take subscription cost, hardware bundle pricing, and credit card processing fees into account.
- Payment Processing Options
Look for a POS system that supports various payment methods and integrates with multiple payment processors. Processing flexibility allows retailers to lower credit card rates and fees.
- Hardware Compatibility
Ensure the POS system is compatible with your desired hardware. Depending on your vertical and shop, you may need mobile mPOS tablets, barcode scanners, customer-facing displays, and more.
- Reviews and Recommendations
Research online reviews and seek recommendations from other business owners. Gauge the reliability and performance of different cheap POS systems before deciding.
- Scalability
Choose a POS system that can grow with your business. Picking a solution that facilitates easy expansion is a must.
- Customer Support
Select a POS provider that offers reliable customer support, including assistance with setup, troubleshooting, and ongoing maintenance. Reach out to support directly and see what kind of response you get.
Do you have trouble getting your POS customer service on the phone?
KORONA POS offers 24/7 phone, chat, and email support. Call us now at 833.200.0213 to see for yourself.
POS Frequently Asked Questions
How much is a basic POS system?
Monthly subscription fees start at $0 for basic plans, while more advanced options may cost more than $100 monthly. Additionally, businesses should budget for hardware expenses. These components include terminals, tablets, and card readers, which can vary in price depending on several factors.
What POS system is the cheapest?
Many POS system providers offer solutions for no real upfront costs. Many of these, such as Square and Toast, make up for these “free” subscriptions with higher pay-as-you-go processing fees. Some higher-volume retailers will find that, for them, the cheapest POS systems are the ones with lower processing fees.
Which POS machine has no monthly fee?
Square POS is a solution with no monthly subscription fees. Toast also offers restaurants a $0/month option. With these platforms, users pay higher transaction fees per sale, allowing flexibility and affordability, particularly for smaller enterprises.
Conclusion
Navigating the realm of affordable POS systems can be a daunting task. The process requires careful consideration and research, from weighing budget constraints to evaluating essential features.
Fortunately, whether you prioritize lower processing fees, seamless integration, or robust restaurant software, there’s a budget-friendly option tailored to your specific requirements. For an affordable solution that meets your retail needs, look no further than KORONA POS. Click the link below for more information!