The average cost for a restaurant POS system has notably decreased since 2012. In 2012, the average expenditure for a POS system was just over $18,000, as opposed to $13,344, currently. The top seven POS solutions were Aloha POS, MICROS, Digital Dining, Clover, Adelo POS, Future POS, and POSitouch. These top seven POS systems accounted for 47.5% of the market. Beyond the top seven, all other POS brands each accounted for less than 3% of the market share.
We identified a shift toward cloud-based systems and POS solutions offered by credit card processors. Clover, Dinerware, Harbor Touch, and Square were the top credit card processor provided POS solutions, accounting for nearly 11% of total market share.
Despite the increased use of cloud-based and mobile systems, less than 10% of independent restaurant owners indicated they use pay-at-the-table devices. Moreover, only 31% of restaurants reported using EMV compliant POS systems. This is particularly noteworthy considering the fraud liability shift that took place in October 2015, mandating that merchants upgrade to EMV chip technology or accept increased liability for fraudulent transactions.
Improvements in plug-and-play components, increased Wi-Fi capability, and a tech savvy labor pool are allowing many restaurant owners to opt for self-installation and remote support. As a consequence, only 74% reported using an authorized POS vendor for programming, training, and support.
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