How to set up your epos and payment system

Your Electronic Point of Sale (EPOS) system is your modern cash register, payment terminal, and stock manager all rolled into one. To get started, you should choose an all-in-one system from a provider like Square, Zettle, or Shopify. These are perfect for new businesses as they bundle the payment processing, software, and hardware together, making it simple to start taking card payments quickly and efficiently.

What to consider when choosing your system

The right system depends on your specific needs, but there are a few key things every new business owner should look for. Before you commit, make sure you’re happy with the following:

• Hardware: What physical kit do you need? This could be as simple as a single card reader that connects to your phone, or a full setup with an iPad stand, cash drawer, receipt printer, and barcode scanner. Most providers sell hardware bundles to get you started.
• Software: The software is the brain of the operation. Is it intuitive and easy to use? Can you easily add products, track stock levels, and view reports on what’s selling well? Most systems are cloud-based, meaning you can access your sales data from anywhere.
• Payment Fees: There are no monthly fees for most simple systems, but you will pay a small percentage of every card transaction you process (typically around 1.7%). Check these rates carefully, as they are a primary ongoing cost. Also, check how long it takes for the money to reach your business bank account.
• Total Cost: Work out the total cost to get up and running. This includes the one-off price for the hardware and the ongoing transaction fees. Avoid getting locked into long, complex contracts early on.

How to get set up

Once you’ve researched the options and chosen a provider, getting started is straightforward. The process is generally the same for all major systems:

1. Choose your provider: Pick the system that best fits your business needs and budget.
2. Order your hardware: Buy the card reader and any other accessories you need directly from the provider.
3. Set up your account: Register your business on the provider’s website and link it to your business bank account.
4. Add your products: Before you can sell anything, you need to add your products, prices, and stock quantities into the system using their app or website.
5. Connect and test everything: Once the hardware arrives, connect it to your Wi-Fi, log in to the app, and run a test payment (you can buy something from yourself for £1) to ensure everything works perfectly before your first real customer walks in.

Taking the time to choose the right EPOS system will make running your shop so much easier. It’s the operational heart of your business, so pick a reliable partner that can grow with you.