Pawn Shop POS: Smooth Transaction Management Operations

The best pawn shop POS Software will help you manage the entirety of your operation — from acquisition to sale and everything in between, including making sure you are meeting all necessary compliance requirements.

Written by Shahab Abbasi

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Why is Pawn Shop Software Important? 

Pawn shop management systems are complicated to implement, and making the wrong choice can cost pawnbrokers money and time – many have wasted their time and money installing failed systems. Pawnbrokers have a hard time choosing the right pawn shop management system because it can cost from a few hundred dollars to tens of thousands of dollars, which can lead to future headaches when you finally decide to fix the mistake of buying based on price alone.

In order to determine the best point of sale software for pawn shop owners, I reviewed over a dozen that are available and narrowed it down to the 4 best, based on pricing, features, pros & cons, and user reviews on trusted consumer review websites such as Capterra, G2, and Trustpilot.

The best pawn shop POS software is Bravo Pawn Systems, due to its powerful scalability, jewelry management tools, integration with third-party systems, and industry-leading customer support.

Pawn shop point of sale (POS) software will help you manage the entirety of your operation — from acquisition to sale and everything in between, including ensuring you meet all necessary compliance requirements.

Beyond that, it should be customizable to your specific needs, integrate with third-party sellers, feature detailed records for items sold or pawn, track customers based on their purchasing habits, and help you better manage your diverse inventory.

All of these features likely won’t come with a free or open-source POS system. And even if they do, you’ll probably be disappointed at the level of functionality. That’s why investing in a top-tier system is well worth it. While it is an upfront investment, you’ll quickly see a clear ROI.

In a hurry? Skip ahead to key parts of this review:

• Bravo Pawn Systems – Best Overall Pawn Shop Software
• PawnSnap – Most Customizable Pawn Shop Software
• Moneywell – Most Feature-Rich Pawn Shop Software
• PawnMaster – Best Pawn Shop Software for Compliance
• Pawn Shop Software Buyers Guide: Features to Look for in a Pawn Shop POS System
• FAQs

Top Pawn Shop POS System: Side-By-Side Comparison

 

1. Bravo Pawn Systems: Best Overall Pawn Shop Software

Bravo Pawn Systems is a cloud-based point of sale (POS) system designed specifically for the pawnbroking industry that offers a set of tools for managing inventory, stores, customers, eCommerce, reporting, and much more. Designed to support both single-store and multi-store businesses, the solution also supports fingerprint scanners, ID scanners, receipt printers, label printers, barcode scanners, cash drawers, and other hardware such as fingerprint scanners and ID scanners.

Top Features of Bravo POS

Listing Items on Third-Party Sites

Bravo’s pawn shop software solution includes a data sync with large websites that sell used items. These include eBay, Amazon, Craigslist, and GunBroker.com. For a slight commission, users can send item images, prices, and descriptions to these sites via the Bravo interface. Any time you sell an item, the proceeds simply show up on your balance sheet.

Scalability

Bravo Pawn Systems is the best pawn shop POS solution for businesses looking to grow and scale at a rapid pace. Its flexibility to expand allows the system to grow alongside you as you scale our business.

Multi-Store Management

Bravo features multi-store management capabilities that allow owners to manage multiple stores from the same system. Because the system is cloud-based, owners can manage multiple stores from anywhere they have Wi-Fi or mobile data.

They can view reports compiled from every store on a single dashboard. Its enterprise system makes it a good fit for first-time pawn shop owners as well as tri-state pawn shop empires.

The Jewelry Master

Many factors play into pricing when buying and selling gemstones and precious metals like gold and silver. For example, you can’t simply place a ruby on a scale and use that as the weight. Jewelers measure the value of gems in a specific way.

You must subtract gravity weight from the mounting weight of the gem to get an accurate measurement. Bravo’s “Jewelry Master” automatically factors in these variables, making it an excellent POS system for jewelry stores and pawn shops.

Industry-Leading Customer Support

Bravo is the only system on our list that offers live customer support 24 hours a day, seven days a week, 365 days a year. The company consistently receives praise for its support team. The team’s capacity to solve customer issues when they arise—even on holidays—is unparalleled in the industry.

Pros and Cons of Bravo Pawn Shop Software

Pros 

• Cloud based software platform
• Ecommerce marketplace
• Easy to use functionality
• Sharing of information can help it to be operate from multiple locations

Cons 

• Because of its modular architecture, you must purchase the entire software, even if you don’t need all of its features
• Internet connectivity required
• No dedicated mobile phone app support
• Only Windows OS supported, no Mac support

Bravo Pawn Systems Pricing 

The Bravo POS software cost starts out at $129/month. The hardware cost is based on custom pricing, so it’s best to reach out to get a better idea of the pricing.

Why Choose Bravo Pawn System? 

Small and medium-sized retail stores can use Bravo POS, and chains of stores can run it on multiple locations. It is possible to centralize data and information from all the locations and share it across all of them.

As part of Bravo’s free trial period, you can try out the salient features of the software and decide if it meets your needs. Bravo may be a good choice for those who need a business solution that is not too technical but still manages the main aspects of their business.

Generally, pawn and consignment stores use the software, but it is not limited to them.

2. PawnSnap: Most Customizable Pawn Shop Software

PawnSnap, founded in 2015, is a new player on the pawn shop POS scene. However, it quickly made a name for itself and earned its spot near the top of our list. This is partly due to the company’s acute attention to customers’ needs and the customer experience. Plus, PawnSnap packed the system with useful features.

It is an advanced, integrated pawnbroker system for empowering your employees, safeguarding your business, and simplifying the management of pawn shops. It streamlines and simplifies the process of running pawn shops using PawnSnap. One checkout can handle multiple transactions for one customer.

The pawn shop software is constantly updated with new features, including new state-specific compliance and reporting features that have been added recently.

Top Features of PawnSnap Pawn Shop Software

Customizable to Meet Unique Pawn Shop Needs

Pawn shops operate with different processes, metrics, etc. Therefore, a standard retail POS system won’t cut it. Pawn shops need a solution that caters to those unique needs.

PawnSnap’s customization options allow pawn shops can mold the system to speak their language and align with their processes. Customizable system attributes include custom reporting, data fields, item categories, templates, and even custom receipts.

Sandbox Environment for Employee Training

This is not a feature you’ll see in many POS systems. PawnSnap includes a “sandbox” testing environment that lets new users get to know the system using fake data.

New hires can test every system function before ever logging into the pawn shop’s actual, live instance. This is a crowd pleaser because it significantly reduces the learning curve and human error in the actual, live system.

A Multitude of Value-Added Pawn Shop Specific Features

PawnSnap offers tons of features that would only be useful to pawn shops (and guns stores). To give you an idea of the breadth of these features, we’ll list a few below:

• ATF Compliant A&D Bound Book
• Metal Weight and Value Calculator
• SDN OFAC Checks
• Electronic 4473 Form Completion
• FinCEN Form 8300 Processing
• AWS Hosting
• Integrated Police Export
• Driver’s License Scanning
• Fingerprint Capture
• Consignment Features
• Layaway Capabilities
• FFL Transfers

Texas Memorandum of Extension

Texas has more registered firearms (725,000+) than any state in the US. The next state on the list is Florida with 432,000 –that’s 40% less than Texas (Source). Texas has distinct gun laws to regulate its volume of registered firearms.

PawnSnap caters to this with its Memorandum of Extension, which was verified by the Texas Office of Consumer Credit Commissioner. This makes PawnSnap the best pawn shop software and gun store POS system for use in Texas.

Constant System Updates

Finally, PawnSnap releases countless software updates each year, constantly improving upon an already powerful system. In the five years after it launched, the company has released over 50 system updates. PawnSnap releases significant feature enhancements and new features with nearly every update.

Pros and Cons of PawnSnap

Pros

• Increased productivity 
• Shortened checkout time
• Easy to install and use
• Frequently updated

Cons 

• Only metals are valued in jewelry valuation
• No customized reporting

PawnSnap Pricing 

PawnSnap pricing has not been listed on their website, customers need to contact the support/sales team to get information about the pricing.

Why Choose PawnSnap? 

The Snap Software company is a cloud-based or self-hosted point-of-sale (POS) software provider with a focus on customized pawn shop point-of-sale (POS) software for pawn shops. There is the ability to create custom fields in all modules and branded artwork such as logos and other branded artwork can be added to receipts and other information that is displayed to the customer.

PawnSnap’s customization options allow pawn shops to mold the system to speak their language and align with their processes. Customizable system attributes include custom reporting, data fields, item categories, templates, and even custom receipts. PawnSnap includes a “sandbox” testing environment that lets new users get to know the system using fake data.

 

3. Moneywell: Most Feature-Rich Pawn Shop Software

Moneywell, as a company, has a long history that started with its founder, Bill Greer. In 1985, Greer wrote the code for the first, rudimentary pawn shop POS system. Since then it’s continued to evolve into what it is today.

The system delivers so many diverse features that it solves the needs of any pawn shop. Moneywell POS is a cloud-based point of sale system for pawn shops. It includes a comprehensive set of features for managing inventory and sales.

It also features a customer database for quick access to customer information. It can also manage loan transactions and credit card payments. Moreover, it has features to handle customer data, manage cash drawers, keep track of employee activity, and track the cost of goods sold.

Top Features of Moneywell

Instant Loan Calculation

When a patron pawns an item at your shop, you are essentially providing them with a loan. Pawn shops require the borrower to provide collateral to cover the loan, whereas bank loans do not.

Moneywell lets you enter an item into the system, which then identifies it by brand, model, make, or another identifier. The POS then tells you how much you should offer for the piece, assuming you want it.

Legal Protection Features

Moneywell delivers multiple features that safeguard your pawn shop from legal complications. For example, selling guns to people without the proper paperwork and background checks can results in a fine. Moneywell helps you avoid any illegal activity with features that prevent them from occurring.

Customer History Display

Pawn shop employees instantly see detailed histories of each customer, such as statistics around gun ownership and usage. This lets them determine who is unfit to sell to and who has a green light.

Locking Suspicious Patrons Out of the System

When someone seems unfit to sell to, employees can lock that individual out of the system. This prevents them from doing any business with your store until you remove the lock.

Granular Purchase Detail Storage

Moneywell further safeguards pawn shops by capturing photos of sold items. The system then attaches that to a photo of the customer, creating a contact record. Along with those two photos, the system also saves a scan of their identification credential and their fingerprints.

Forfeiture Management

The system automatically manages the logistics around forfeiture dates. It sends automated email or SMS text message reminders to borrowers when the last day to reclaim their item nears.

Pros and Cons of Moneywell

Pros

• Customer history display
• Easy to use
• Automated reminders for customers
• Legal protection
• Assistance with loan calculation

Cons 

• No API Integration

Moneywell Pricing

Moneywell’s basic pricing plan begins at $79 per month, and goes up from there. For a quote on your individual pawn shop business requirements you can have direct contact with Moneywell.

Why Choose Moneywell POS?

Moneywell POS is a cloud-based point of sale system for pawn shops. It includes a comprehensive set of features for managing inventory and sales. It also features a customer database for quick access to customer information. It can also manage loan transactions and credit card payments. Moreover, it has features to handle customer data, manage cash drawers, keep track of employee activity, and track the cost of goods sold.

Users can earn money by playing sponsored games on the Money Well POS. Each game offers a certain number of tickets for each minute played. Then, after some time, players can cash out for real cash. In some countries, a single game can earn up to $0.44. There are several ways to redeem tickets, and one way is to buy a prepaid card that can be redeemed for real cash.

Moneywell POS offers similar features to PawnMaster. However, it is not as advanced as other POS systems. Before choosing a system, it’s advisable to schedule a demonstration with the POS provider so you can compare the features and prices. With a demo, you can also see whether Moneywell is better than PawnMaster.

4. PawnMaster: Best Pawn Shop Software for Compliance

In today’s market, PawnMaster is considered the number one POS system on the market. A large selection of industry-leading pawnshop hardware, software, and business supplies are available, while the support is exceptional.

A number of features are available to users, such as text message and e-commerce capabilities, and this system complies with all federal, local, and state laws. There is a software platform called Classic that can be used by all pawn shops, not just those that need a cloud based solution for their pawn shop.

Top Features of PawnMaster

ATF Compliance

PawnMaster provides a comprehensive ATF compliance module that keeps your pawn shop out of trouble and open for business. The system maintains a detailed, digital A&D bound book to eliminate paper records and reduce the risk of human error.

The system can automatically create 4473 transaction numbers for each gun sale. Plus, it stores and backs up all important ATF compliance records and firearm inventory numbers.

Loan Audit Automation

Pawn shop owners and managers can easily keep a finger on the state of their loans with robust loan audit automation features. It’s quick and easy to monitor pawns and purchases. You can view the amount paid, who processed the order and a description of the item bought or pawned. All this streamlines routine reviews so owners and managers can focus on running the shop.

Data Transfers to Law Enforcement Agencies

Law enforcement agencies require pawn shops to provide detailed information around items pawned, bought, and sold. They also require information on the individuals who initiated these transactions. With PawnMaster, you can automatically transfer this data to multiple law enforcement agencies.

OFAC Compliance

The US Office of Foreign Assets Control (OFAC) monitors countries, companies, and individuals engaged in activities that threaten national security. It publishes and constantly updates a list of those entities.

Obviously, you can’t sell a firearm to anyone acting on behalf of one of an entities. PawnMaster syncs with OFAC’s database to ensure you always have the most up-to-date list in your system. Plus, PawnMaster updates your list in real-time when the OFAC updates its list.

Pros and Cons of PawnMaster

Pros

• Real time updates and reporting
• ATF compliance
• Automation for loan audits
• OFAC compliance

Cons

• It is a little hard to figure out some parts of the program

PawnMaster Pricing 

The PawnMaster POS software cost starts out at $60/month. The hardware cost is not available on their site, so it’s best to reach out to get a better idea of the pricing.

Why Choose PawnMaster POS?

A pawn shop POS system that does this for them is a lifesaver and that’s just what PawnMaster does. The other systems on the list manage compliance as well, it is among PawnMaster’s strongest selling points.

PawnMaster provides a comprehensive ATF compliance module that keeps your pawn shop out of trouble and open for business. The system maintains a detailed, digital A&D bound book to eliminate paper records and reduce the risk of human error.

In addition to Pawnmaster’s concern for swift processing, the company has some of the best training and support teams in the industry. This kind of report is designed in order to make sure your shop is as efficient as possible as well as profitable. As a result of the built-in marketing tools, your shop is able to achieve a higher revenue level.

Pawn Shop Software Buyers Guide: Features to Look for in a Pawn Shop POS System

Since pawn shops are a type of retail store (better said, hybrid retail store), they require all the features standard retail store POS systems deliver. But they also require features that wouldn’t help most other retail stores.

Automated Price Estimation

Because pawn shops sell used goods, they need to know the market value for all used merchandise they sell. Solid pawn shop software should include built-in price estimation functionality. Pawn shop owners can easily check the price eBay and other popular sites that sell secondhand goods are charging.

Pawn shop value estimator functionality saves loads of time you’d otherwise spend manually searching various sites and using guesswork.

ATF Compliance Features

Large volumes of firearms move through pawn shops. The US Bureau of Alcohol, Tobacco, Firearms, and Explosives (the ATF) monitors gun sales. It obligates sellers to comply with specific guidelines when selling arms.

Federal Firearm Licenses (FFLs)

Before you can legally sell firearms, you must acquire a license to do so. There are nine types of federal firearm licenses (FFLs), so check to be sure which one you’ll need.

Compliance Recordkeeping

Once you have an FFL you must register each gun sale with the ATF and start maintaining records of each sale. Plus, the buyer must pass a background check in most instances.

Look for pawn shop management software that integrates with the ATF’s database and provides digital A&D bound books. You’ll also enjoy having features like fingerprint identification and automatic registration and recordkeeping of any firearm sold.

Federal vs. State Gun Laws

The tricky part about compliance is that state–not federal—governments record firearm sales and each has its own laws regulating ownership.

Federal Compliance

The federal government requires licensed sellers to run background checks and buyers to have licenses in transactions conducted as part of the seller’s business.

However, gun purchase transactions between private parties can take place without that red tape. Gun shows provide a perfect example of this loophole in action.

As long I’m not selling you a gun as “part of my business,” I don’t need an FFL to do so legally. Nor would I need to run a background check on you, the customer. That is, unless state law prohibits it.

State Compliance

Many states enforce additional restrictions around gun ownership, on top of federal regulations. It’s helpful to have a system that you can customize to ensure compliance with your state’s unique legal code. If not, you should research the matter yourself.

Pawn Shop Inventory Categorization

Your pawn shop might focus on pawned firearms, electronics, and instruments. Or, perhaps it mainly processes antique coins, jewelry, and precious metals.

Inventory categorization facilitates better merchandise organization and lets you check and confirm correct inventory levels faster. Moreover, customized inventory categories expedite your inventory audit process.

Without customized categories, you could have 500 items in a spreadsheet that are impossible to sort in any useful way. This would exponentially extend the time needed to complete an inventory audit.

Fulfilling Special Item Requests

Many customers speak directly with pawn shop owners to request a specific item. The owner notes this request and will alert the buyer if that item shows up in their shop.

Managing these special requests gets complicated when done manually. Luckily for owners, many systems include features that manage this process for them. If your pawn shop receives many special item requests, it’s smart to look for a POS system with those features.

Layaway Capabilities

Pawn shop customers often find an item they want, but don’t have the money on hand to purchase it at that moment. If your pawn shop POS system includes layaway functionality, you can accept partial payment then set the item aside.

This gives the customer a set amount of time to return with the remaining balance due. Layaway features should also calculate the time remaining before the item goes back on the shelf. With that information, it can send automatic notifications to the customer when the layaway expiration date is nearing.

Which Pawn Shop POS Solution Would Work Best for You?

To select the right system, we recommend starting with a comprehensive list of system requirements that will meet your needs.

When evaluating a system, check items off that list as you go. That alone will help you shortlist the best systems for your needs.

We recommend you continue your search until you find the perfect system; if you settle for “good enough” it could come back to bite you.

The four systems above are our favorites and you should fully evaluate each. Bravo is a great option for shops looking to scale operations and grow, and a great option in general.

Frequently Asked Questions

What program do pawn shops use?

A pawn shop or store that uses pawn shop pos software having extensive features like inventory management, loan payment and other are more likely to get a good return on their investment than a store that does not use it

What do pawn shops like the most?

There are certain things pawn shops buy almost always because of their resale value:

• Jewelry.
• Precious metals.
• Watches.
• Firearms (registered to you)
• Electronics.
• Power tools.
• Musical instruments.
• Sporting goods, such as bikes.

How do you organize a pawn shop?

To start a pawn shop you need to follow simple steps:

• Develop a plan for your pawnshop.
• Legalize your pawn shop. 
• Tax registration for pawn shops.
• Set up a business bank account and credit card.
• Organize your pawn shop’s accounting.
• Obtain permits & licenses. 
• Insure your pawn shop.

What is the typical markup at a pawn shop?

It is common for pawnshops to try and maintain a 38-50 percent profit margin when it comes to their business, which means they would like to earn that much more than what they would offer you.