Point of Sale Systems Overview
Point of Sale Systems
What are Point of Sale Systems?
The Point of Sale (POS) is the place where a retail transaction takes place: It's the hardware and software used to physically accept payments and record transactions.
POS software automates some of the events around the POS. Self-service variants automate the transaction entirely, doing away with the need for a human service staff member.
Cloud POS can be accessed from a tablet or other device by service staff in the field or in a retail store. It can also sync with online purchases and accounts for better data collection and retention.
In some cases, POS providers also provide integrated payment gateways for eCommerce features and/or payment processing services.
For small businesses, trends like mobile payments and mobile loyalty programs are especially relevant to product selection. For large businesses, the POS system will often be part of a larger retail management suite.
Pricing covers both hardware and software. Entry level systems begin at around $500 for the hardware and a monthly subscription price for the software of about $50. High-end systems though might cost twice that much.