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What Is A Point Of Sale (POS)



People use the acronym POS often without knowing the meaning. But that is true. But that is not all, what it is used for, and what it is all all about. POS stands for Point Of Sale. That is the answer to the question. What is a point of sale (POS). I am going to talk about this point of sale here.

What Is  a  point of sale (POS)

POS refers to a point of purchase where a customer executes the payment of goods and services and where sales taxes may become payable. It could be a store, bank, market and supermarkets, offices and outlets where payments are done.

What Is A Point Of Sales Terminal.

This is a physical store or hardware that is used to carry out a point of payment or transaction. It could be a POS machine or a  computer.

POS can be used for bill payments and sometimes even to do airtime top up, mobile transfer of money to different banks and account and to use and make payments, also to receive payments.

An Example Of A POS. What Is A POS.

If you are buying a product or products from the supermarket or elsewhere. You can take it to the cashier who will scan your receipt. Or rather you insert your ATM in the POS machine to be debited. Thereby making the payments.

What Is A Point Of Sale Terminal.

This is a hardware, like a point of sale machine used in carrying out a point of sale transaction.

What Are The Three Types Of POS?

•All-In-One POS System. Some POS systems give you robust functionality in one application.

  • Cloud-Based POS System. Cloud-based POS systems are basically mobile apps your business can use on any device.
  • EMV Chip Readers.

Some Brands That Manufacture POS.

They include Hypercom, Verifone, Ingenico and so on.

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