PawnSmarts comes set up for Mississippi's 25% monthly pawnshop charge, 30-day hold and forfeiture, and police reporting — so you write a clean ticket in about 30 seconds and stay compliant without doing the math.
Mississippi pawn shop software is a point-of-sale and loan-management system configured for the Mississippi Pawnshop Act — the 25% monthly pawnshop charge, the 30-day hold and automatic forfeiture, and LEADS Online police reporting. It calculates each charge and due date to Mississippi's rules so a pawnbroker can write a compliant ticket without doing the math by hand.
You shouldn't have to configure a state into your software. PawnSmarts ships pre-configured for Mississippi — the 25% monthly pawnshop charge, the 30-day hold after maturity, automatic forfeiture, and the reporting your local police department expects. Open a new pawn, scan the pledgor's license to auto-fill name, address, DOB and ID, and the rate and due date are already right.
Under Mississippi Code §75-67-313, a pawnbroker may charge up to 25% of the principal per month as a "pawnshop charge" covering all services, expenses, costs and losses. That is among the highest allowed in the nation — the equivalent of about 300% annually. The charge is deemed earned, due and owed as of the date of the pawn transaction, and a like sum is deemed earned monthly on the same day of each succeeding month.
PawnSmarts is pre-set to apply the 25% charge automatically on every ticket and to keep accruing it on the same day each month, exactly as the statute describes. A 2024 amendment allows third-party credit and debit card fees to be passed to the pledgor, which the software supports.
| Loan amount | 25% monthly charge | 3-month total charges | Total to redeem |
|---|---|---|---|
| $100 | $25 | $75 | $175 |
| $500 | $125 | $375 | $875 |
| $1,000 | $250 | $750 | $1,750 |
| $2,000 | $500 | $1,500 | $3,500 |
Mississippi provides for automatic forfeiture: pledged goods not redeemed within 30 days following the originally fixed maturity date are forfeited to the pawnbroker by operation of law (§75-67-311, §75-67-315). Absolute right, title and interest vest in the pawnbroker, and no notice to the pledgor is required. During that 30-day window, §75-67-315(k) prohibits removing the pledged goods from the premises.
For purchases rather than pawns, Mississippi requires a hold before resale to allow law-enforcement review (§75-67-309): 21 calendar days when reporting on paper, or 14 calendar days when reporting electronically. PawnSmarts tracks purchase holds separately from pawn holds so each clock is correct.
Compliance reporting is the part that gets shops in trouble. PawnSmarts exports your daily transactions to LEADS Online and produces the police reports your department expects, with OFAC checks built into intake. You stay in control of when reports go out, and the data is already formatted correctly.
Mississippi pawnbrokers operate under the Mississippi Pawnshop Act (Mississippi Code §§75-67-301 through 75-67-337), regulated by the Mississippi Department of Banking and Consumer Finance.
No lifetime-lease games and no per-station tricks. PawnSmarts is $89/month for Essential or $129/month for Professional — month to month, cancel anytime, no contract and no setup fee. Prefer to own it? Professional is $2,995 one time. With integrated card processing the software can be free. We migrate your data for a one-time $395 and have you live in under 24 hours.
Professional adds what shops in tight-margin states actually want: 3 automatic SMS and email reminders before each loan is due, with secure links so pledgors can pay online and the loan updates instantly — fewer forfeitures, more redemptions. See how that works on the reminders page.
From Tupelo to Gulfport, moving to PawnSmarts is simple: send us your current data, we migrate it for $395, and you're running the same day. No contract to sign, no setup fee, nothing to install. Explore what pawn shop software does, review US state licensing, or see the other states we serve.
Mississippi caps the pawnshop charge at 25% per month of the loan amount under §75-67-313 of the Mississippi Pawnshop Act (§§75-67-301 through 75-67-337). This is the all-inclusive charge for making the loan, and no additional interest, service fee, or storage charge may be collected on top of it. PawnSmarts auto-calculates the charge on every loan so the math is always correct.
Under §75-67-311 and §75-67-315, a pledgor has 30 days after the maturity date to redeem pawned goods, after which the goods automatically forfeit to the pawnbroker and may be sold. For goods purchased outright (not pawned), Mississippi requires a 21-day hold for paper records and a 14-day hold when records are filed electronically. PawnSmarts tracks both hold clocks and prevents premature sales.
Mississippi pawnbrokers report transactions through LEADS Online, the statewide electronic pawn transaction tracking system used by law enforcement to identify stolen property. PawnSmarts exports daily LEADS Online files directly from the ticket data you already entered — no re-keying, no separate data entry required.
The Mississippi Pawnshop Act requires the pawn ticket to include the date of the transaction, a description of the pledged goods (including serial numbers if available), the loan amount, the pawnshop charge, the maturity date, the total amount required to redeem, and the pledgor's name, address and ID. PawnSmarts captures all required fields and prints a compliant ticket for every transaction.
Pawn shop software generally runs from about $89 to $350 per month depending on features and number of stations. PawnSmarts is $89/month for Essential or $129/month for Professional — month to month, no contract and no setup fee — or $2,995 as a one-time purchase, and it can be free with integrated card processing.
Open the live demo and click around. If it looks right, sign up and we'll move your data for $395.
Questions? [email protected] · 800-710-6184