Introduction
In the earlier days, we had a very complicated system of processing sales. There was a system where when a customer makes the payment, the entry was done onto the sales register, then transferred to the accounts department and then to the stock information register. Now things are getting easier. When we hear of the term “technology” we think of developments done on fields related to artificial intelligence. But the artificial intelligence is brought to all the sectors of living. In other words, technology is being developed in all the fields and sectors of our day-to-day lives. Here’s a new concept of “Point Of Sale”. Point of sale is a concept applied when a customer makes a transaction to a merchant during the sale of a product. There are several terms under this which makes it easier for us to understand.
- POS terminal: it is a synonym of the POS (Point of Sale) system definition mentioned above. It means that the POS concept is taking place between two terminals, the merchant and the customer. A POS terminal acts as an intermediary between a merchant and a customer. It is basically an electronic equipment that is used in the transaction process. You may want to pay the bill through a credit and debit card, then how do you pay using debit or credit card? Using a swiping machine that we call in general. This machine performs sales transaction and processing the card payments.
- Common POS systems: there are various types of POS systems. The reason behind having many kinds is due to the fact that not all the system will have the same requirements. Requirements vary according the type of business. For Example, for a restaurant and bar, there exist the same type of POS and the main objective of these POS are that they should provide fast processing of orders, should be able to generate bills quickly and store the status of the sales and the inventory. The faster the system the better you will be able to catch orders and serve your customers. When you consider a retail shop, it’s never the same POS that the restaurants used. Retail shops use a different kind of POS according to the company requirements.
One advantage that attracts people into this system is that, you need not always carry cash. You can pay bills online. HSC fabrication also uses point of sale method.
