Hi! It’s nice to meet you all again. I started my career in a SaaS-based company building POS and ERP products for business owners. Little did I know there would be a challenging topic to understand – What is the difference between POS and EPOS? I can sense your smirking. What’s the big deal? Google and find out. Not that simple. You can read so many blogs and even look at the videos. But there will be an evident lack of clarity by the end of it. That’s how I felt too. Then with the right experience, collaborating with product experts, and making mistakes (Of course!). I got to know the real difference. So, I believe in the saying, ‘Sharing is caring!’ So, let me share my learning of POS Vs. EPOS, i.e., Point of Sale Vs. Electronic Point of Sale with you.
What is POS?
A Point of Sale system, or POS, is where your customer completes payment for the products purchases or services experienced from your store. Or in simple words, a POS system is the place where a customer completes a point of sale transaction.
Remember the bulky and heavy device at the checkout counter? YES! That one.
What is EPOS?
EPOS or Electronic Point of Sale system combines both the features of EPOS hardware and EPOS software. EPOS offers a more advanced technology to provide better business operations and performance. Or it’s best to say that EPOS is the electronic format of the traditional POS systems that mostly operate online. Your store’s complete information gets completely secured on a cloud.
What is the difference between POS and EPOS?
Let’s discuss a few of the important areas of business where the difference between POS and EPOS is clearly evident.
When we talk about POS Vs. EPOS, security is one major concern for business owners. EPOS systems offer better security than traditional POS. Since EPOS systems are web-based, you need better security protocols to store and manage data. Customer data needs to be protected. Whereas, when it comes to a traditional POS system, the chances of losing data due to an attack on the local server or hardware failure are more. EPOS systems are safer to use as they are less compromised. Also, there is a feature called ‘Security cash drawer’ for security management where the cash drawer can be opened only at the time of billing and not all the time. This restricts unauthorized users from accessing it.
Flexible Payment Options
The way we exchange money is constantly changing. Customers across geographies prefer multiple payment methods such as touchless payments, online payments, traditional credit card payments, and many more. Businesses should be capable of adopting them.
An EPOS system is more flexible when it comes to modes of payment. Traditional POS systems, in most cases, accept only cash and a credit or debit card. This limits business and even prevents certain customers from using the business’s services or products. So, having multiple payment methods for your business is essential to attract more customers. The modern EPOS systems can accept touchless or online payments. When you make a payment via card or SMS link or PayTM, the POS will complete billing only after the payment is updated in real-time, making sure there are no suspicious payment activities.
Hardware flexibility is a major difference between POS and EPOS. Traditional POS systems usually work only with the default hardware installed, i.e., a stationary terminal with a cash drawer and credit card reader. At the same time, an EPOS system is more flexible for your business. An EPOS system is compatible with multiple devices such as Bluetooth printers, Barcode scanners, mobile devices, and more.
When it comes to Traditional POS, it is easy to maintain and does not require any specific training. But EPOS requires constant software updates, security checks, and privacy scanning to make sure everything is running smoothly. If a traditional POS system crashes, the replacement is easy. But when an EPOS system gets attacked, you have to replace the entire system and accessories.
Emerging MPOS trends
EPOS ventures further and transform into MPOS, i.e., mobile POS. With contactless payments and mobile wallets like Google Pay, PayTM, and PhonePe increasing in popularity, mPOS systems are also better equipped to accommodate those customers who wish to tap or dip their phone to pay.
mPOS is cost-effective, allowing a small business owner to conduct transactions without investing in an electronic register or paying to support the software. mPOS technology is significantly less expensive than a traditional POS, and it relies on cloud-based subscription models that boast low initial costs and monthly maintenance payments. mPOS systems can also lead to shorter checkout and return lines.
Even in establishments with traditional countertop POS systems, an mPOS can be deployed during rush or heavy traffic to prevent backups at the sales registers, streamlining customer service.
Service and support
EPOS sometimes requires special support to resolve issues due to connected hardware involvement. Whereas a traditional POS system, it does not require that. The integrated hardware cannot be upgraded in EPOS. For example, if the payment collection device is just card swiping, today we have one-tap payments/UPI QR code, etc., which cannot be done in EPOS. You have to switch to a newer version.
Do you have better clarity with the difference between POS and EPOS now?
POS Vs. EPOS – Which is correct for your business?
When you consider POS Vs. EPOS, certain factors help you with the right choice for your business.
When cost is a factor
Small and medium-sized businesses cannot invest a lot in buying additional hardware to support their traditional POS system. For example, if you want to add additional bill counters with a POS system, you have to set up different terminals in the store. Whereas with an EPOS system, you can let your staff do the billing on mobile and let your customers complete it via Digital invoicing. So, no need for additional bill counters! But the accessories for EPOS do not come for free. You have to invest, and a few accessories may not even be useful after a point. Whereas a traditional POS is not very expensive with the upfront cost.
When space is a factor
Renting a space in the city is not at all easy. Not all business owners have the privilege of having their own space. So when you rent a space, the profit per square feet, i.e., the profit for every square feet of your business, is important.
Here’s the formula to calculate it –
Profit per Square feet = Revenue/Retail Space in square feet
The profit per square feet determines the efficiency of a company’s retail store. A higher profit per square foot indicates a retail shop that demonstrates strong efficiency and performance.
If this is the case, you cannot be allowing a major space for the traditional POS system. With EPOS systems, you can even make billing using mobiles. There is no need to dedicate a huge space to the POS system.
When Internet connectivity is a factor
EPOS requires a stable internet connection in many instances. Though offline billing is supported by many EPOS providers it does not assure real-time update of data. This is where traditional POS helps. If your store cannot involve a stable internet connection, traditional POS can be a good choice.
When the software update is a factor
EPOS system requires constant software updates. You have to be on top of the technology to manage it. In contrast, traditional POS requires minimum to no training. Also, EPOS can be a headache when technology turns against you. For example, remember the time when the amount got debited from your account, but you had to wait for the bill since it did not get reflected in the POS. Or when the security cash drawer did not allow you to open for urgent requirements. A traditional POS can help you avoid such situations.
When accessories become a factor
When your business wants to add more hardware components to your business, you need a compatible POS system that integrates easily with all of them. An EPOS system is easily compatible with many accessories such as:
a) Cash drawer: A lockable metal drawer to store cash. You can control by whom and when a cash drawer is opened. This also reduces employee theft.
b) Bluetooth printer: You can easily connect with a printer using Bluetooth without any hassle.
c) Barcode scanner: You can connect different types of barcode scanners, such as handheld and multiline, with an EPOS system.
d) PDQ Terminal: A device to accept credit card payment.
e) Customer Display/ Pole Display: a standing device to deliver price and advertising information to a customer at the POS.
f) Tablet/ iPad EPOS: A portable hardware used in addition to/ instead of the traditional EPOS to assist with business operations. Businesses that require higher mobility or small stores with limited space will definitely need this. For example, mobile vendors, quick-service restaurants, coffee shops, gift shops, juice bars, sandwich shops, etc.
Does Gofrugal support traditional POS and EPOS?
POS or EPOS, don’t worry. We have got you covered for all requirements. Gofrugal offers POS, EPOS, and even MPOS solutions that are super flexible for any type or size of business. Do you want to know why Gofrugal should be your choice for POS, EPOS, or MPOS? Read until the end!
Why should you choose Gofrugal?
If you want one good reason why you should choose Gofrugal POS for your business, ‘It gives you the freedom to choose!’
Superfast billing – With Gofrugal, express checkouts are not a dream anymore. You can do super fast billing and make your customers happy—no need for additional billing counters. You can complete billing with less skill, staff, and even less time.
Multi-lingual billing support – We are aware of how our customers are spread across geographies. To make billing easier for your employees and save time trying to toggle with terms, Gofrugal offers multi-lingual billing support.
Easy integration – You need not worry about adding accessories as part of your POS system. Gofrugal supports multiple hardware components. If you want to do a paperless transaction, it’s super easy. Also, Gofrugal integrates seamlessly with popular payment gateways such as Razorpay. Most retailers nowadays use the card swiper for debit or credit card transactions. Plutus is the product offered by Pinelabs. With the use of Plutus now a retailer can swipe the card in their keyboard. With our Digital invoicing, you can send payment links to customers, and they can pay the bill with just one click, saving tonnes of money spent on paper and being environmentally friendly too!
Security in POS counters – Gofrugal offers intelligent session management to ensure security is maintained well in the POS counters. If you deal with bulk billing and have employees taking up multiple shifts to complete billing, session management will help you solve discrepancies and reduce stress.
Reports and insights anywhere – With Gofrugal POS, you can access business reports from anywhere using WhatsNow. You can view what’s happening in the store from anywhere and make timely decisions. Basically, be more aware of your business’s health.
No additional skills required – Training your staff to use our POS is not a problem at all. It is super friendly and can be mastered in no time. There are no additional technical skills or educational qualifications required for it. It’s that easy!
GST readiness – Gofrugal’s POS is always GST ready and updated with current rules as soon as they are announced. With this, we make sure there is no mismatch in transactions between you and your Suppliers/Customers. Despite mismatches, easily identify them and lets you communicate them to the other party for a quick resolution. You can be at peace knowing that all your required entries have been included for compliance and that taxes are correctly paid.
Suppose you are still confused about the right choice for your business and the chaos of POS Vs. EPOS prolongs; talk to us now!