Full Form of POS | POS Full Form | Meaning of POS | About POS
Full Form of POS is Point of Sale: Point of Sale may well be referred to as a “computerized” equivalent word of money register. During a retail search, it’s a physical location, we call a charge counter, wherever transactions of all of your purchases are created. A Point of Sale terminal tends to be the last purpose of your searching journey. A typical POS would possibly embrace a range of Input/Output devices like a code reader, a computer, printer, magnetic card reader and a lot of usually slightly screen show.
The computer system contains info relevant to the actual kind of business within which the device is put in. for instance, during a sales outlet, the system would possibly store the data of all the product obtainable within the store. A typical POS machine for an eating place would possibly store the value of all the food things in their menu. The magnetic card browser is employed to read the data of ATM or Mastercard that may well be wont to pay the bill. Some banks might modification fees for every group action created through the ATM or Mastercard. Apart from a charge, POS system conjointly helps in analyzing the sales knowledge, inventory, and job.
According to Wikipedia:
The point of sale (POS) or point of purchase (POP) is the time and place where a retail transaction is completed. At the point of sale, the merchant calculates the amount owed by the customer, indicates that amount, may prepare an invoice for the customer (which may be a cash register printout), and indicates the options for the customer to make payment. It is also the point at which a customer makes a payment to the merchant in exchange for goods or after provision of a service. After receiving payment, the merchant may issue a receipt for the transaction, which is usually printed but is increasingly being dispensed with or sent electronically.