The point of sale (POS) is the moment when goods or services are provided to the customer and payment is made. POS systems vary, but all generate transaction receipts. Self-service kiosks are increasingly used in supermarkets. POS hardware and software are found in other retail situations, restaurants, hotels, casinos, sports stadiums, and online shopping.
Also known as a point of service or POS, the point of sale is the exact point in a transaction when goods or services are provided to the customer and payment is made for those products. While the specifics of a POS system will vary somewhat from one situation to another, the end result is always the same. Today there are professionals analyzing and developing tools that help create an environment for exchange, many of them related to specific retail situations.
One of the simplest point of sale systems is found in the supermarket. This system consists of the cash desk, a scanner and the cash register. As each item is scanned, the system detects the cost. Once all the items selected by the customer have been scanned, the system calculates the applicable taxes on the purchases and provides the customer with the total amount due. The customer makes the payment, which the hardware records, generating a transaction receipt for the customer.
Today, there is a new twist on this type of store strategy. Self-service kiosks are increasingly used in supermarkets and other outlets. The POS terminal allows the customer to scan each item before placing it in a bag, automatically applying discounts or sale prices to each scanned item. Once the customer has scanned and bagged the purchases, the system calculates the taxes and offers the customer several choices in payment method. When cash is used, the software records the amount of cash deposited and issues any changes due to the customer. As with more traditional POS systems, this self-service model also provides the customer with an itemized receipt of the transaction.
Point of sale hardware and software are found in other retail situations. There are retail systems designed for use in bookstores, flea markets and airports. Restaurant vending equipment includes automated ordering kiosks that the customer can use to place an order and submit payment. The restaurant POS is very popular in many drive-up style fast food restaurants, but it can also be used to place orders in some family style restaurants. As with retail outlets, the restaurant model can accept credit and debit cards for payment. However, it is unusual for such a device to accept cash.
Over time, automated point-of-sale devices have become increasingly popular, showing up in hotels, casinos, sports stadiums and similar venues. Technology has also made them an option for online shopping, making it possible to purchase goods in online stores and pay for them instantly.
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