Mynt POS Review
POS Systems
A dba (1) of POS-X, LLC, Mynt is a POS provider that offers credit card processing software and hardware for merchants. Non-EMV transactions are facilitated by Worldpay while EMV transactions are powered by First Data, Global Payments, Heartland, TSYS, and Worldpay as well. In addition to taking payments, the company’s POS software offers seating management, item creation, custom reports, back-office solutions, and printing. Mynt’s hardware includes an all-in-one terminal with integrated MSR, a receipt printer, and a cash drawer.
Mynt is a sleek, all-in-one POS system that offers an integrated receipt printer, cash drawer, and card reader. The 14” touchscreen is high-definition for a crisp display and easy reading.
Mynt has the benefit of selling directly to merchants, unlike other POS providers who strictly operate through resellers. That, in addition to its offering of multiple merchant account providers to choose from, provides merchants with options to weight different rates and fees. The company also allows merchants to choose between paying for equipment upfront or over the course of a year. Mynt itself offers short-term, 1-year contracts. Though they do include an early termination fee, merchants are not locked into multiple year contracts. In addition to that early termination fee, merchants are charged a $69 monthly subscription fee to cover software costs, technical support, and a warranty.
The company boasts 24/7 support (included in the monthly cost of the system) and offers initial remote installation and training with a Mynt expert.
The POS system includes features for multiple industries, including a variety of food service businesses (fine dining, quick service, cafes, bakeries, food trucks, ice cream shops, juice bars, and specialty food stores) as well as general and boutique retail.
Mynt Features
Mynt offers features in multiple ‘categories’ including payments, table layout and management, item creation and inventory management, printing and reporting, and management functions. We’ll go into detail on Mynt’s features below,
Features are standard with the Mynt software. You’ll also have a choice of 10 languages.
Payments
In the payments category, Mynt offers all of the modern options you’d expect or need at your business. You can split a bill to allow customers to use multiple payment types like cash and card, split a check between multiple customers, enable tips on credit card sales, automatically charge a gratuity for parties of a certain size, and apply discounts. You can also customize tax rates for standard percentage sales taxes, taxes per item, or by volume of the item purchased.
Tips are easily accepted on credit card payments, or you can opt for an automatic gratuity charge based on the number of guests at a table. An unlimited number of payment types can be created to cover all the bases (checks, vouchers or gift certificates, and so on).
Checks can easily be split among multiple customers. Charge accounts can be set up for regulars. Discounts can be set up as a percentage of a total sale or specific dollar amounts and configured on the fly. Checkouts can be done in a few as 4 taps of the screen, or in a matter of seconds using the custom Quick Tender button.
If you offer different pricing at different times of the day or days of the week (such as for happy hours or discount days) the easy price adjust features allow you to quickly go from regular pricing to special pricing.
Table Layout and Management
With Mynt’s table layout and management options, you can customize the layout in Mynt to match your actual table layout for effective hosting and seating. A table preview option lets you see what items each table has ordered, and easily move or merge tables. You can also open and close tabs, or move a tab to a table as needed.
Table layouts can be customized to match a restaurant’s physical seating areas. The table layout view shows available tables, occupied tables, and what has been ordered at occupied tables.
Specific seating areas can be set up with their own custom pricing if desired. Tabs can quickly be opened for each customer, and even shifted between tables when needed.
Item Creation and Inventory Management
It’s crucial to have an accurate, up-to-date menu and inventory. With Mynt, you can add or edit items from any of the POS stations and the changes will automatically flow to other connected stations. You can add images for easy recognition when staff enters orders and enable an item modifier option to customize items according to your customers’ preferences. Modified items let the kitchen staff see changes to the items so that orders are prepared correctly.
Items can be created or modified from any Mynt Pos station and the change automatically roll out to all stations of a given location. Include add-on items for any item in order to drive up-sales.
Use item modifiers to customize orders to suit customer requests and inform the kitchen staff how to prepare an order. Items can be color-coded or include custom images so staff can find items easily to speed up taking orders.
Tax rates can be customized for standard percentage sales tax, per item tax, or even based on the volume of the item. Grouped taxes functionality means multiple taxes can be grouped together, allowing it to handle complex taxes for items such as liquor or glass bottles with multiple taxes beyond standard sales tax.
Additionally, Mynt includes inventory tracking to keep tabs on stock levels and can generate purchase orders automatically based on numbers of items sold.
Printing and Reporting
Mynt has a built-in receipt printer, but can also work with remote printers and kitchen printers so that everyone who needs information has it. You can also add your name/logo to receipts, and optionally include a marketing message on the top or bottom of the receipt.
In addition to the standard receipt printer, the Mynt POS allows for using up to six more remote printers. You can specify what items will print where, and even have items print at multiple printers.
Add notes to order to make sure kitchen staff understand guest requests. You can specify which payment types get a printed receipt to save paper. Printed receipts can include your company logo as well as a customized message at the top or bottom of the receipt.
Reporting
With more than 20 built-in reports, you can quickly see how well your business is doing. Reports can be customized to show pre-set dates (like current day, week, or month) or set to any time period you’d like. You can also choose to run a report at the end of each day showing daily sales and items sold.
20+ standard Mynt POS reports can be run on any desired date range (daily, weekly, monthly, quarterly, yearly, or a custom date range). The end of day report includes daily sales and an optional list of items sold.
Receipts can be searched for reprinting purposes or for refunds. Any report can be exported as a PDF or an Excel spreadsheet. Built-in graphing helps you visualize key data. User accounts mean you can run individual employee performance reports.
Reports have graph capabilities to help see important info at a glance, and can be exported in PDF or Excel formats.
Backoffice And Authorizations
Employees designated as managers can access additional features not available to regular staff, such as options to void transactions. You can set the access level individually for each employee, ensuring they have access to the functions necessary for their job and not to additional functions that should be limited. You can also see reports for sales made by individual employees.
The Mynt POS backoffice functions are supported in 10 different languages. A few taps allow for switching from standard pricing to special pricing (such as for happy hour). Managers can bring up any past transaction to void the sale and reverse charges, including completed sales.
Set user permissions to control how much any given employee can access the system. Inventory tracking can include automatic purchase order generation based on items sold.
Customer Service and Technical Support
On the “buy” page of the website, the FAQ area notes “all active accounts receive free 24/7 technical support.” However, when you visit the support page of the website, you’ll first see a variety of online resources for Getting Started, Support Articles, Software Configuration, and Common Questions (with a grand total of six minor questions).
If you click on “contact support,” you can get support via chat or telephone. It also says normal business hours support is M-F 6:00am-4:00pm PST and that “After hour support is available for emergency purposes.”
The telephone number listed is not a toll-free number. The Mynt Enterprise version of the POS says it comes with 24/7/365 USA-based technical support.
How much does Mynt POS cost?
To use Mynt, you’ll either purchase the equipment outright or choose a monthly payment option for the equipment. These costs are separate from the costs to accept credit cards, which are also explained below.
In addition to entering into a contract with First Data, Global Payments, Heartland, TSYS, or Worldpay to facilitate payment processing. According to the company’s terms and conditions, merchants must also enter into a one-year contract with Mynt for the use of its hardware and software. Mynt’s merchant agreement reflects that its contract term is not to exceed 36 months, however, it is unclear whether or not there is an automatic renewal following the initial one-year contract. Merchants reserve the right to purchase Mynt’s hardware outright for $995 or to make payments in monthly installments. Monthly installments cost $119 including the same $69 fee for software costs, customer support, and a warranty for the hardware. In the event a merchant purchases the equipment outright, they are still assessed a $69 monthly fee for software costs, customer support, and the warranty. Mynt assesses its own early termination fee if a merchant cancels service within 1 year. That fee is a calculation of 50% of the merchant’s remaining subscription costs.
Rates and fees for payment processing will vary depending on the merchant account provider providing those services. This could result in the inclusion of additional early termination fees as well as PCI compliance fees. While many of those merchant account providers also assess equipment lease terms for credit card processing terminals, Mynt provides that equipment to merchants itself for an additional cost, with the benefit of being stuck in a non-cancelable equipment lease.
Hardware Costs
The Mynt POS station includes the terminal (with integrated receipt printer), a cash drawer, card reader, and the POS software. You can optionally add a remote printer, barcode scanner, employee swipe cards, or a locking cover for the cash till.
In my experience, it is mandatory to acquire two barcode scanners for Mynt POS with a USB interface. You will need at least one, and the second unit would be a critical spare part reserve in case it is needed. Operating a POS system without one is a negative experience and the shipping may take several days until you receive a new unit. The price is 95 dollars.
One year commitment is required in all cases with an early termination fee.
You can purchase the Mynt POS system outright for $995, with an option to save 25% on each additional system. If you choose to purchase the system outright, you’ll still have a $69/month fee for software updates, customer support, and a lifetime warranty.
If you’d prefer the monthly payment option, it will cost $119/month, which includes the system, software updates, and the warranty.
Evaluating Mynt’s pricing means delineating its fees from those of the merchant account provider contracted for payment processing services. In essence, the cost of entering into a merchant agreement with Mynt means taking on an additional early termination fee as well as equipment costs and support fees. While its software certainly provides many merchants with beneficial services, it could be a costly expense for businesses that are not in need of a comprehensive POS solution.
Unlike some competitors, Mynt sells its hardware directly to merchants. Often, POS providers operate through merchant account providers to either lease or resell their hardware. Buying hardware directly from the POS system manufacturer protects merchants against the possibility of entering in an expensive long-term, non-cancellable equipment lease. Mynt does charge for add-ons to its basic hardware for items such as payment terminals, bar and kitchen printers, and laser barcode scanners.
Compatible Credit Card Processors
Mynt states that its preferred processor is WorldPay, but does allow other processors. The company also has a partnership with Netcom Paysystem, a processor that places certified quotes here at CardFellow. That means that if you want the best of both worlds, you can use Mynt as your POS system while still getting extremely competitive credit card processing backed by all of CardFellow’s protections, like a lifetime rate lock and no cancellation fee.
Credit Card Processing Costs
Mynt doesn’t set your pricing for credit card processing. The credit card processor who handles your transactions sets those costs.
Setup
Mynt offers quick start guides and color-coding to help with quick setup of your new system. The company has a visual guide, pictured below, and offers remote customer support.
Additionally, Mynt offers several video tutorials that walk you through how to use specific features of the POS system.
Mynt POS Reviews
Unfortunately, there aren’t many available customer reviews for Mynt online, and the company doesn’t have any reviews on its website or its official Facebook page.
A single review on Amazon indicates that the customer was not satisfied and felt the POS software was too complicated. However, one review doesn’t give much insight. If you’ve used Mynt, let us know what you think. Leave a comment below!
Product Features
STATUS
Universal
PRODUCT CATEGORY
POS Systems
FEATURES
- Mobile device management
- Tableside Ordering
- Tableside Payment Processing
- Patron Online Food Ordering
- Gift cards and customer loyalty tracking
- Marketing metrics
- Inventory management
- Sales reports
- Employee tracking & management
- Payroll metrics
- Quickbooks data export
- PayPal acceptance
- Integrated CRM (customer relationship management)
- Windows-based system
HARDWARE
- iPad-Based System
- Android-Based System
- Bar Code Scanners
- Card Readers
- Cash Drawers
- Receipt Printers
- Customer Displays
- Kitchen Printers & Monitors
- Checkout Scales
- Portable Receipt Printers
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