Reverse POS Reviews
Welcome to my Reverse POS Review!
We know that with so many POS systems on the market today, it can be confusing to choose the most beneficial option for your business.
Reverse POS system is designed to help streamline your operations and boost your profits each month. Reverse works best for hospitality, service and retail businesses.
But is the Reverse POS system the right fit for you? Dive in with us as we answer that question.
Reverse POS Review
Quick company background, Reverse POS is a registered trademark of the U.S based company, Versatile Merchant Solutions LLC (a registered ISO of Wells Fargo Bank).
Pricing
The cost of the Reverse POS system depends on which features you need for your business.
After a consultation with the Reverse POS team, they will determine which features would be best for your business type and its requirements.
They will work out the savings you could make with them and provide a quote for your monthly flat fee.
As part of this process, you can have a demonstration of the setup they specifically put together for you.
The Reverse POS website also has an online tool that you can use to work out potential savings using your figures for monthly volume, average ticket volume, and current processing fees. This company also offers a $50 bonus for each referral you make.
Features and Benefits
Reverse POS is a hybrid between a point-of-sale system and a credit card terminal. A Reverse POS system can bring many positives to your business with its feature-rich design. Fashioned to maximize profits, this POS system may be of particular benefit to small businesses. Let us take a closer look at some of these features and look into what they could bring to your business.
Payment Processing
Distinct from other credit card processing systems and companies, the Reverse POS system actually pays your business to accept credit cards.
They will pay you, the merchant, to process credit card transactions through their platform by adding a non-cash adjustment of 4% to all of your sales.
If a customer pays with cash rather than their credit card then the adjustment is removed.
Your products will have a non-cash and cash price, with you being able to offer customers a cash discount.
With this sales system, your profits will go up the more credit card transactions that you process.
When it comes to payment processing in this way, this is the only program offered that is legal in all fifty states, and the company, Versatile Merchant Solutions LLC has an A-rating with the Better Business Bureau (BBB).
The PayAnywhere app, which can reportedly save businesses several hours a week on management operations, is the main payment processing software. This includes features such as an offline function, the ability to set up tabs and pre-set tip values by dollar or percentage as well as receipts that can be printed, emailed, or texted to customers.
Integrations
Reverse POS system has many integrations, providing an up-to-date solution for sharing data. They are partnered up with a plethora of POS providers so are able to integrate with the majority. For example, it integrates easily with Quickbooks, which allows real-time reporting of your business.
The Reverse POS system functions via a semi-integrated environment making everything very secure, for example, the credit card information is encrypted immediately and goes directly to the processing host from the terminal making the Reverse POS system very safe.
Inventory & Employee Management
The Reverse POS system has cloud-based technology which allows you to carry out day-to-day tasks from on any device and location.
The Pay Anywhere app can provide inventory control software for this sale system. It has templates that are easy to use. These can save you time by allowing you to bulk upload your inventory.
The software allows you to set up discounts that are based on amount or percentage to either single items or whole orders and it can send you notifications when stock becomes low or out of stock.
When it comes to analytics, you can also keep track of your sales by category, item, or even discount and get reports in various formats, for example, stock levels, transactions, and the performance of items.
Overall it is straightforward to track, restock and sell your products, a great way of keeping your business organized in minimal time.
On the Reverse POS system, employee management can be carried out via the Homebase app which is suitable for any business type.
As well as creating labor reports, it allows you to review timesheets and see the availability of your employees at a glance as well as keep track of hours, construct schedules, manage payroll and even send out reminders about shifts to staff.
Online Ordering Features
The Reverse POS system has some great online ordering features especially in view of the current pandemic. This is very advantageous for restaurants that provide deliveries or would like to allow customers the option of curbside collection of their meal.
It is also simple and easy for customers to order and pay online. Orders are sent directly to you for processing thereby minimizing errors and there is also a streamlined process for the curbside collection option.
Hardware
Reverse POS uses the stylish and compact Pay Anywhere Smart Flex hardware. Prices listed on the Pay Anywhere website for this hardware are $549.95 for the unit with a $49.95 set up fee, however, this does not include any fees which may be charged by Reverse POS.
With its 4G and wifi connectivity and Android software, Smart flex can be used as a mobile device and includes a built-in receipt printer and barcode scanner, two touchscreens (one being customer-facing), and a hand strap to help you carry it around. It allows customers to pay via credit and debit cards as well as make contactless payments.
Customer Support
The customer support team will move all of your current data from your previous POS system to your new Reverse POS system so any delay when switching is kept to a minimum. Their live technician and customer support are available 24/7 to deal with any problems and include help with any equipment and setup. The company offers video calls as well as in-person assistance from their regional account managers who are based all around the U.S.
Complaints and Limitations
At the moment, the Reverse POS system is only offered in the U.S. so if your business has branches outside of there then it might not work for you. There are many positive comments from happy customers on the Reverse POS website but several customers have had a bad experience.
Many of these issues involve being missold the product by agents, mix-ups over cancellation fees, and some problems not being resolved in a timely manner with experiences of poor customer management.
Some customers were upset by the non-cash adjustment and suddenly having to offer credit card customers a higher price, when switching to the Reverse POS system.
It is advisable to make sure you read the contract carefully, including the small print before signing.
Square is another provider of POS systems with payment processing as a central aspect of their business.
Square offers some excellent point-of-sale solutions for small businesses, with options that avoid any monthly fees, whilst their more comprehensive packages are suitable for larger companies including enterprise-level ventures.
Square POS solutions are available for retail, restaurant, or appointment-based professional service operations.
Their customer service and technical support departments are as highly rated as the POS systems themselves, so they're always worth considering.
Lightspeed POS has point-of-sale packages aimed at the retail and restaurant sectors, in addition to a specific POS system for golf courses. All of these are impressively feature-rich, especially in terms of inventory management, customer relationship management, and performance analysis.
They use their own payment processing solution for clients in the USA and Canada, while customers elsewhere have a range of payment integration options.
Lightspeed systems are generally considered an all-in-one POS and business management solution, so some smaller businesses may find paying for all of the features unnecessary compared to a more streamlined option like those from Square However, if your business is larger and wants to exploit several income streams, Lightspeed is one of the best choices available.
Final Verdict
Reverse POS system has distinct benefits of its own compared to other systems, changing the way POS systems operate and process payments. It can really drive profits with every credit card transaction.
Reverse POS look to make any transition to their POS system as smooth and glitch-free as possible. They offer free demonstrations, have their customer service team available 24/7 to offer assistance and there are many positive testimonials from satisfied customers on their website.
A Reverse POS system is definitely worth considering, especially if you make lots of credit card sales.
Tyler Connaghan
Contributing Author
