Definition of Point of Sales (POS) System

In our video tutorial we are going to show you that a point-of-sale (POS) transaction is what takes place between a merchant and a customer when a product is sold.

What is a POS System? A POS terminal is synonymous with POS system.

A POS terminal is the electronic equipment performing the sales transaction and processing the credit card payments.

So what are the most common POS systems out there?

1. Restaurant POS Systems - The primary reason you need a POS for a restaurant is to accept payments and to streamline operations. In addition to receiving payments, you need to be able to track all your sales and tax data. There can be hundreds of POS features that can streamline your operations and make your restaurant more efficient.

2. Bar POS Systems - There is software designed specifically for bars, most POS systems used by restaurants can also be used for a bar. Particularly for busy bars, your system needs to have speed functions for quick order input and quick check out. The quicker you’re able to process a transaction the happier your customers will be.

3. Retail POS Systems - Retail point of purchase (POP) systems are typically programmed specifically for retail environments. So that means you would most likely never use a restaurant POS terminal for a retail shop and vice versa. Retail businesses can have some particular requirements and features that other programs will not have.

4. Small Business POS Systems - A small business point of sale system could come in many shapes, sizes, and flavors. Most of the new small business technology is app based and on mobile platforms. A small biz POS might be used for environments like a small retail shop, small restaurant, yogurt shop, or cafe.

5. Salon and Spa POS Systems - Nail salons, hair salons and spas all require a particular set of POS options due to the nature of the business. So not just any POS software system will do. Options like an online appointment calendar, appointment reminders, and retail functionality are required features.

In Summary - We covered some of the major types of point of sale software and hardware systems. We sincerely hope this information was helpful and useful in your quest to understand the meaning of POS.

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