8 Best Point of Sale Systems for Small Businesses and SMEs in Singapore: POS System Comparison (2024)

Are you looking at point of sale (POS) machine options in Singapore for your F&B, retail, or online business? This quick guide will help you pick the best POS system for your business while comparing the pros and cons of popular POS systems in Singapore. Here's what you need to know!

What is a point-of-sale (POS) system?

Modern POS systems are like the Swiss Army knives of commerce, providing multiple digital tools to help retail and food and beverage businesses run efficiently and effectively. These POS machines handle payments and manage day-to-day operations like receipts and inventory management while capturing sales data for business planning.

What’s more, modern POS software is cloud-based. Changes automatically sync across all devices, helping you manage your entire business from your mobile device or get a quick overview of your inventory and sales from your POS machine.

A point-of-sale system allows you to:

Accept payments from anywhere:
Once a customer is ready to buy, the payment process should be as seamless as possible. Most modern POS software has a mobile app to accept payments on the go, transforming your handheld POS machine into a portable checkout counter.

Some POS terminals also work as a standalone device, meaning you don’t need to pair it to your phone to accept payments.

Manage day-to-day operations:
Restaurant POS systems or POS systems for retail businesses calculate prices, taxes, discounts, and surcharges automatically to speed up checkout. You can also connect your POS system to a receipt printer, helping you easily print receipts and store customer info.

Automate tedious yet essential tasks like accounting and inventory management:
With the right accounting integrations, POS systems automate vital tasks like reconciling payments and sales data with your accounting software with your POS system. Inventory sync ensures your inventory levels are up to date, whether you sell online or offline.

Analyse your store’s performance and make informed business decisions:
Get an overview of your store's performance by capturing sales performance in your POS machine. Over time, you’ll see which products sell and which don’t, how demand varies over the year, and future opportunities for growth.

How to choose the best POS system in Singapore for your small business or SME

With many POS software options to choose from, how do you pick the right POS system for your small business? These are the 4 factors to consider:

1) How well does‌ the POS software support your business? 📊

It's essential to look at the POS system's tools for providing exceptional customer service daily. Business needs change as they grow, so you also want to ensure your POS machine can grow with your business. For example, if you plan to do business at a new location or hire more staff to help manage your business, so your POS machine should have user management and multi-location support.  

When choosing a POS system, look for these features:

Managing day-to-day operations with your POS machine

• Inventory management: Are inventory levels synched between your physical and online stores? Inventory management features help keep you updated with orders, stock, and pricing levels every time you charge a product through your POS system.
• Accounting integrations: Does the POS machine include support for accounting integrations for Xero, Quickbooks, or other similar accounting software to simplify payment reconciliation?
• Easy payment experience: Look out for the POS machine’s ability to make the payment process seamless - from billing, accepting payments, or making receipts to record transactions. Some POS solutions also allow you to send receipts by SMS or email for a paperless experience.
• Pricing customisation: Does your POS machine easily allow you to configure add-on pricing for surcharges, service fees or taxes? This is important for F&B outlets with customisable orders to speed up your customer checkout process.

Scaling your business

• Multi-location and user management features: These features may come in handy even if you plan to do business in Singapore only, for example, if you hire temporary staff for peak sales seasons or open a temporary pop-up store to sell at events
• Built-in POS machine support for expanding beyond Singapore: Consider if your preferred payment methods are available in the country where you intend to expand. For example, retail businesses looking to expand to Indonesia should ensure their POS machine supports popular local payment methods in Indonesia like QRIS, Doku Wallet and Alfamart for a seamless experience.

2) What POS hardware do I need? 📠

Depending on your business, you’ll need different hardware to set up your POS system. POS providers may offer hardware included in a package, or you can purchase them separately.

Some POS machine hardware examples include:

1. Customer-facing displays allow your customers to see the costs of each item on your POS machine’s display screen as they are processed. It’s a good opportunity to highlight ongoing promotions or showcase new products directly to your customers.
2. POS terminals and card readers to accept digital and credit card payments from your customers.
3. Printers to print receipts, tags or labels if you’re running a retail store selling physical products.
4. Tablets and tablet stands to process payments and orders on the go. F&B outlets might find tablet POS machines helpful for taking payments or placing orders.

3) Does the POS machine offer the payment methods you need? 💳

Most POS systems support credit/debit card payments, but if you need to use specific payment methods popular among your target audience, make sure your POS system offers them.

Check if your POS machine supports the following payment methods in Singapore in addition to credit/debit cards:

• Buy-now-pay-later (BNPL) solutions like Atome
• Local payment methods like PayNow
• E-wallets like Apple Pay, ShopeePay, Google Pay or GrabPay

4) How much does your POS system cost?

Depending on your number of employees and stores, your POS provider may charge you for additional features and terminals.

Look out for these cost components when budgeting for your POS system:

• Upfront POS hardware costs (purchase fees)
• Ongoing subscription or rental fees
• Payment processing fees
• Any hidden fees like rental, maintenance fees or POS machine licensing costs

Top 8 F&B POS systems and retail POS systems in Singapore — 2023 comparison

1) Qashier

Qashier’s online ordering features and food delivery integrations make it one of the better F&B POS systems to scale your business. It's expensive, but Singapore SMEs registered and operating in Singapore can get a sizeable 50% grant under the Productivity Solutions Grant (PSG) or the Qashier Support Package for SMEs (QSP) from 1st April 2023 or 25 July 2023 respectively.

Their free Lite plan is sufficient to start a small business, but you’ll need to upgrade to a paid subscription to scale.

✅ Pros:

• Pre-approved POS machine solution under IMDA, meaning Singapore SMEs can get up to 50% off starter kits based on grants/subsidies for the first 12 months from the approval date.
• Has the QashierEats Online Ordering and integrations with food delivery platforms like GrabFood and FoodPanda
• Supports a wide range of local payment methods in Singapore

❌ Cons:

• No iOS app
• No free plan, basic plan has limited user management features
• Need to pay a costly monthly subscription for e-commerce integrations or additional POS devices

2) Waffle POS

Waffle POS’s customisable sales reports and CRM features make it easy for offline-only F&B operators to reward loyal customers and make data-driven decisions by looking at sales data. Its customisable menu is well-suited for F&B businesses with seasonal menus and lots of add-ons.

This POS machine provider also integrates with many local payment methods in Singapore and food delivery platforms, including GrabPay, FoodPanda and Deliveroo. However, you may need another POS solution if you plan to bring your business overseas, or if you want to easily integrate your POS machine and online sales.

✅ Pros:

• Includes offline mode to minimise disruptions
• Option to include a CRM feature to understand customer behaviour and build a customer loyalty program

❌ Cons:

• Works in Singapore only
• No e-commerce integrations

3) MegaPOS

MegaPOS strength is their customisability, with various add-ons and integrations available for F&B, retail outlets and salons. Grants help reduce your initial costs for small businesses and SMEs, making it a strong candidate for an F&B POS system in Singapore.

✅ Pros:

• Pre-approved solution under IMDA, meaning Singapore SMEs can get up to 50% off starter kits based on grants/subsidies for the first 12 months from the approval date.
• Wide range of add-ons specific to F&B, beauty & wellness and retail to customise your business’s needs.

❌ Cons:

• Limited payment support outside of Singapore

4) HitPay POS

If you run a small business or SME, HitPay POS may be the best POS system for you.

You can use all features, such as inventory tracking, payment customisation options, unlimited product listing options, and multi-location support, without paying a subscription fee. For small businesses that want to expand their business, HitPay supports payments across Southeast Asia and major markets across the globe.

✅ Pros:

• Simple pricing. No subscription fees, only pay per transaction
• All features are unlocked for free, including customisable pricing and multi-location features.
• Wide support of local payment methods in Southeast Asia markets like Malaysia, Indonesia and the Philippines to help scale your business
• Inventory tracking & easy sync with e-commerce platforms like Shopify or WooCommerce
• POS machine syncs with Xero and Quickbooks for easy accounting

❌ Cons:

• Specialised F&B and restaurant features like table-side ordering and table management coming soon

5) VendPOS by Lightspeed

VendPOS includes inventory management and multi-location support with their POS machines, making it well-suited for larger retail businesses that sell across multiple locations.

However, this POS software lacks a free plan and can get expensive quickly for small businesses with smaller budgets. For example, adding extra sites will set you back US$89 per location, while additional registers cost US$39 per month on the Lean plan.

✅ Pros:

• Works offline
• Includes Shopify and WooCommerce POS integrations

❌ Cons:

• Costs rise exponentially based on number of locations
• Doesn’t support local payment methods like PayNow or GrabPay
• Accounting and e-commerce platform integrations not available on the entry-level plan

6) Shopify POS

Shopify’s POS solution comes bundled with all Shopify subscription plans. It also includes basic inventory and product management features. However, essential features like user permissions and analytics require the Shopify POS Pro plan. Upgrading will cost an extra S$132, besides your base Shopify plan’s fee.

✅ Pros:

• Included with Shopify subscription
• Includes order and product management features

❌ Cons:

• Advanced features like unlimited store staff and omnichannel selling locked behind Shopify POS Pro plan.
• Limited support for local payment methods in Singapore.

Read more: Shopify POS and HitPay review

7) Revel

Revel’s cloud-based POS software is iPad only, making it best suited for businesses already invested (or willing to invest) in Apple’s tablets.

Their POS software offers multi-store support, detailed business analytics, smooth ordering and more. However, the ongoing software and upfront POS machine costs might be too steep for a small business.

✅ Pros:

• Conversational ordering is available on their POS machines to help cashiers input orders faster
• Dedicated enterprise POS tier with support for an open API, delivery management and online ordering support

❌ Cons:

• Ongoing software costs starting at US$99/month/terminal
• Only works on the iPad

8) Loyverse

Loyverse offers a forever-free option on their POS machine with a robust feature set, including mobile/tablet apps, inventory management, basic employee access right management and a CRM.

It does lack local payment methods in Singapore, making this free POS system more suited for small businesses not based in Southeast Asia.

✅ Pros:

• Wide range of integrations available to add more functionality, including accounting software, e-commerce platforms, online ordering and digital receipts
• Robust free plan

❌ Cons:

• Features like employee management and app integrations are add-ons and locked behind subscription fees
• Lacks Singapore/Southeast Asia local payment method support

Try the best POS system for small businesses and Singapore SMEs

HitPay's all-in-one POS system can help you start or scale your business, regardless of whether you are starting a new business or upgrading your payment infrastructure.

Want to learn more about HitPay’s free POS software and POS machines?

Click here to sign up for a free HitPay Singapore account or get in touch for a free 1-on-1 demo.

About HitPay

HitPay is a one-stop commerce platform that aims to empower SMEs with no code, full-stack payment gateway solutions. Thousands of merchants have grown with HitPay's products, helping them receive in-person and online contactless payments with ease. Join our growing merchant community today!