A point of sale (POS) may be referred to as a cash disbursement or cash withdrawal and is usually the place in a shop or restaurant where the transaction for the exchange of goods and services takes place.
Sales systems usually refer to the physical electronic device and peripherals used to make transactions. This hardware can be a cash register, a dedicated computer, or even a mobile device such as a tablet. You can also visit JNA Merchant to get the best point of sale system for your business.
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Value-Added Retailers (VARs) use the term POS synonymously when discussing hardware and checkouts. Confusion is growing in the credit card industry. Merchant service providers who process credit card transactions and their independent merchants (ISOs) will also refer to stand-alone credit card terminals as POS.
A POS in this sense is simply a peripheral device that reads credit cards, transmits transaction data between branches and credit card processors, and, once approved, can issue receipts.
The first point of sale hardware was a mechanical cash register developed in 1879 by a Dayton saloon owner named James Ritty. The goal is to retain honest employees and consumers.
A POS system is hardware bundled with POS software and peripheral tools. This hardware helps store employees or workers manage the sales process. At a basic level, POS software manages transaction calculations.
However, the cash register software is quite scalable and modules for accounting, inventory and even customer relationship management (CRM) can be added. There are inexpensive software options available that can provide small shop owners with some of the tools used by large Fortune 500 retailers.