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    Point-of-Sale (POS) System

    A point-of-sale (POS) system is a device that customers use to check out and pay for their purchases.

    What Is a Point-of-Sale (POS) System?

    Today, a point-of-sale (POS) system is much more than a cash register. 

    It’s a combination of hardware and software that enables customers to purchase products or services via:

    • Cash;
    • Credit;
    • Debit;
    • Mobile wallet;
    • QR code; or
    • Contactless payment options.

    A point-of-sale (POS) system can take many shapes, including a stand-up console, a mobile device, or a tablet. When an employee rings up a customer, the system calculates their total (including tax) and offers the customer a few different ways to pay. 

    After the customer pays, the system finalizes the transaction and stores customer purchasing data for the business to use to understand their financial health.

    Because most modern POS systems are connected to insight automation technologies, they involve software that can:

    • Process payments;
    • Manage inventory;
    • Create analytics reports;
    • Manage customer relationships; and
    • Support marketing campaigns.

    In this way, many systems offer a one-stop-shop for businesses.

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