A point of sale (POS) is a system that businesses use to manage sales transactions. In the past, a POS in a shop would have been a big cash register and a ledger to record purchases and sales. Today we have hassle-free solutions that do a lot of the work automatically – from basic customer purchases to inventory management.
A POS can include accessories like a barcode scanner, a receipt printer, a card terminal or a cash drawer. Usually there’s also an internet-enabled device (like a tablet, smartphone or computer) that can run a point-of-sale app. One business might want a setup with lots of accessories, while another may only want the app. You can build your own so you only have what your business needs.
There are no hard-and-fast rules defining what a POS is, which can make understanding what you need for your POS a bit tricky. For example, physical stores and digital stores both need point-of-sale software to manage inventory and transactions; but a high street shop might also need hardware – a card machine or receipt printer, for example. POS setups can vary widely in price – from basic and affordable, to complex and expensive; and all POS providers charge a processing fee.
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