How Much Does a POS System Cost?

Best POS System

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POS systems are a great way to combine payment processing and a great customer experience, with the best of them also giving you extra sales insights on your business.

POS systems typically cost around $1,700 for an upfront investment and then around $1,400 per year to use the software.

With the rising inflation scenario in Canada, you'd be wise to want to save as much as possible to get this solution. The good news is that you likely already own one of the priciest parts of a POS system: the tablet. Together with a card reader and receipt printer, it makes for a relatively cheap and efficient payment system.

We know that choosing the best POS system for your business can be daunting, but we can certainly help. If you give our comparison tool a try, we’ll match your business with trusted suppliers and they'll contact you with custom quotes for you to compare and pick the best deal!

cake pos
The new: Modern iPad Cash Register
manual cash register
The old: Manual cash register

How Much Does POS System Hardware Cost?

The bulk of your POS system expenses relate to the hardware rental and the software subscription. Both are normally charged monthly, with the former accounting for the lease of the POS system equipment (such as card readers, barcode scanners, etc) and the latter being the fee the provider charges so you can use their program.

The great thing about a POS system is that you can make it as basic or as sophisticated as you want. However, to give you an idea of what you’ll need, we’ve created a rough guide on the average POS hardware costs based on the size of your business.

Size of businessWhat you’ll needOverall cost
Start-up retail unit or restaurant
  • Tablet
  • Card reader
$810
Small
  • Tablet
  • Card reader
  • Receipt printer
  • Cash drawer
$1,250
Medium
  • 2x tablet
  • 2x card reader
  • Printer
  • Cash drawer
$1,910
Large
  • 3x fixed POS systems
$6,810 (includes software)

Want to Compare POS Hardware Costs?

POS providers are often flexible with their hardware packages, giving you the option to pay for the hardware on a monthly basis, or to purchase it outright. Most suppliers will also offer tablet stands, barcode scanners, and the option to purchase on-going supplies, such as receipt printer paper.

POS suppliers may also be able to provide discounts for companies that require a more sophisticated hardware package. Does that sound like your business? You can see whether our suppliers can offer your business some killer deals on hardware, simply by sharing some quick details on our handy online form

Refresh your business with a new POS system

Credit Card Fees

A merchant account processes the payments between your terminal and bank. They can either be provided by your bank, or by a POS supplier, and they will charge a fee to process each credit card transaction.

As a rough guide, the standard credit card processing fee in the US is usually between 2.3% and 2.5%. However, these are usually higher if customers purchase products through your website. There are other factors that can influence the percentage, but these are best discussed with an expert.

Check out our credit card fee comparison table below for some of the most popular POS suppliers…

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0 out of 0
Swiped rate transaction fee

2.90% + $0.30

Swiped rate transaction fee

2.90% + $0.30

Swiped rate transaction fee

2.65%

Swiped rate transaction fee

2.60% + $0.10

Swiped rate transaction fee

1.8% + $0.15

Swiped rate transaction fee

2.3% + 10¢

Keyed in rate transaction fee

3.30% +$0.30

Keyed in rate transaction fee

3.30% + $0.30

Keyed in rate transaction fee

3.4% + 15¢

Keyed in rate transaction fee

2.60% + $0.30

Keyed in rate transaction fee

1.8% + $0.15

Keyed in rate transaction fee

3.5% + 10¢

POS Costs by Industry

Here’s a breakdown of the costs of a POS system by industry. Bear in mind that the following costs are a rough guide and you should speak to a supplier for more accurate pricing.

In this section, we’ll compare some of each industry’s most popular POS system packages, comparing the low, mid, and high-price range packages available. The prices shown are either a monthly subscription, or a one-off fee.

How Much for Restaurants?

As a restaurateur, customizing menus, running financial reports and managing ingredients are just a few of your regular assignments. Unspecialized POS systems just can’t handle the heat of the kitchen. Luckily, the best restaurant POS systems are designed with you in mind.

No two businesses are truly the same, and so some will require fewer features. For example, if you need a POS system for your food truck, you won’t need to spend as much on your hardware.

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Price

From $89/month

Price

From $93/month

Key Features
  • Cloud-based
  • Great stock management tools
  • Loyalty programs
Key Features
  • Loyalty schemes
  • Table monitoring
  • Process every payment type
Spice up your restaurant with a new POS system

How Much for Grocery Stores?

Grocery POS systems are purpose-built to handle large numbers of customers. While you rack up sales, a great grocery POS lets you manage your inventory, set up automatic low stock alerts, and accept gift cards, all with the tap of a touchscreen. The best solutions even use advanced analytics and reporting to shed valuable insight into your best and worst selling products.

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Price
  • $99 min. monthly fee (per terminal)
  • On-boarding from $674
Price
  • Free – $0
  • Plus – $60/month
  • Premium – custom pricing
Key Features
  • Barcode scanners,
  • Scales
  • Receipt printers
  • Customer-facing displays
  • Self-checkout
Key Features
  • Add TikTok shopping tabs
  • Sales reports
  • Team management
  • Integrated payments
  • Same-day and instant transfers
Grow your grocery store with the perfect POS system

How Much for Salons?

The more time you spend pampering your customers, the more money you’ll make from their repeat business. But it’s easier said than done when you’ve got lots of payments to process and appointments to manage, especially during peak hours.

That’s where salon POS software can help. Bespoke salon solutions help you manage bookings with ease, reschedule appointments, and take requests for new ones. Purchasing a salon POS is a surefire way to boost the efficiency and profitability of your business.

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Price

From $29/month

Key Features
  • One click customer check-ins
  • Credit card processing
Save money on your next shiny salon's POS system

How Much for Bars?

As a bar owner, you no doubt keep close tabs on hourly, daily and seasonal trends that affect drink prices. If you serve food, you probably also juggle ticket orders, food preparation and section seating. But what if your POS system could do all of that for you? Specialized bar POS systems can help with all of these tasks, and more.

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Price
Price
  • Starter – $120/month
  • Essentials – $175/month
  • Custom – bespoke
Key Features
  • Scalable
  • Delivery and contactless online ordering
  • Advanced insights
Key Features
  • Caters to quick & full service
  • Contactless ordering
  • Marketing
  • Payroll & team management
  • Available internationally (US, UK & CA)
Brighten up your bar with a new POS system

How Much Do iPad POS Systems Cost?

As touched upon already, using iPad-based POS systems is the preferred option of many small businesses. Most suppliers offer some kind of tablet integration for their software.

Three big benefits of iPad POS systems are:

  • Easy to set up and train staff to use
  • Mobile, helping staff deliver consistent customer care across locations
  • Lower repair and maintenance costs than most desktop-based systems
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Price
  • Payments – $0/month
  • Essentials – $14.95/month
  • Register $49.95/month
Key Features
  • Intuitive back office
  • Offline mode
  • Take payments & refunds over phone, email or mail

Next Steps

By now, you should have a better idea of the general POS costs. To summarize, POS system costs depend on three things:

  1. Industry: From multi-location retail to independent eateries, different POS solutions target different niches
  2. Hardware: The amount of hardware you need usually depends on the scale of your business
  3. Software features: Software pricing usually depends on the number of features you need

Bear in mind that POS solutions are no longer one size fits all. It’s now possible to invest in a POS system that is completely tailored to the needs of your business. This means the cost of a POS system should be completely tailored, too.

We know that finding a POS for the right price can be a time consuming process, but our quick, easy, and free comparison service does all the hard work for you. To receive tailored quotes from trusted suppliers, simply tell us about your POS desires and they’ll be in touch.

FAQs

What is the best POS system?
Montreal-based Lightspeed is the best POS system in Canada because it offers industry-specific packages. Lightspeed Retail enables you to manage multiple retail stores from a single interface whereas Lightspeed Hospitality includes the ability to access online ordering and delivery apps on the POS system.
How much is a POS kiosk?
A POS kiosk can cost anywhere between $3,600 and $6,100.
Do I need a POS system for my small business?
If your small business depends on in-person payments and you're looking to provide a smooth customer experience to your clientele, a POS system is the best way to streamline your checkout process.
Are POS systems worth it?
For the potential of scalability they bring (with their data insights) as well as their ability to ease a lot of the processes of your business' daily management, POS systems are worth the investment in them.
Written by:
Zara Chechi
Zara is a Payments Expert, specialising in writing about Point of Sale systems. With a Law Degree from City University of London, she has used her legally-honed research and analytical skills to develop expertise in the Business Services world. Featured in FinTech Magazine, she quickly became an expert in payroll, POS systems, and merchant accounts.
Reviewed by:
Ruairi uses his 3+ years of research experience to uncover insights which can help Expert Market provide the best business solutions for their users. He has done this by meeting with business owners to find out what is important to them and what challenges they face on a daily basis. Ruairi specialises in tools that can be used to grow your business and has done research for a wide range of categories on Expert Market, such as EPOS, Website Builders, and Merchant Accounts.