Point of Sale (POS) refers to the place or system where a retail transaction is completed between a seller and a customer.
Question : POS stands for which of the following?
- 1) Point of Satisfaction
- 2) Point of Sale
- 3) Point of Service
- 4) None of The Above
It’s the point where the customer makes a payment for goods or services, and the seller issues a receipt for the transaction.
Function of POS:
A POS system combines hardware and software to:
Record sales transactions
Process payments (cash, cards, digital wallets, etc.)
Manage inventory
Generate receipts and reports
Track customer data and sales trends
Examples of POS Systems:
Retail POS: Used in supermarkets or stores (e.g., barcode scanners + billing software).
Restaurant POS: Used to take orders, print kitchen tickets, and manage tables.
Mobile POS (mPOS): Portable systems using tablets or smartphones for on-the-go sales (e.g., food trucks, delivery businesses).
E-commerce POS Integration: Online stores integrate POS software to manage both physical and online sales data.