Point of Sale (POS) System Definition

Merchant Account Point of Sale (POS) System Explained:

What is a Point of Sale System? A Point of Sale System, usually referred to as a POS system, is a system of hardware and software that enables merchants to accept payments from customers at the checkout counter. POS systems traditionally include some combination of cash drawers, credit card terminals, receipt printers, barcode scanners, and computers that run software designed to keep track of sales and inventory, but advances in technology have opened up a number of new options for merchants in recent years.

In the modern market, cloud-based POS software is gaining in popularity as iPads and other mobile devices make payment acceptance more versatile and less reliant upon large, expensive hardware. Other innovations include in-store tracking of customers, synced ordering for servers, and real-time sales data. Typically, these stripped-down POS systems consist of only a mobile device, a card reader, and optional hardware depending on a merchant’s needs.

POS (Point of Sale) Video Explanation

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Why I'm Qualified to Write About Credit Card Processing and Merchant Account Services

I'm a former credit card processing sales director who left the industry because I didn't like how it takes advantage of small business owners. It feeds like a leech on businesses and thrives by imposing fees that are nearly impossible to comprehend. Seeing a need for change, I left and built this website help business owners better understand the industry, research merchant services providers, and get refunds of excessive merchant account fees. My experience of working "behind the curtain" in the industry, and using that knowledge for good, has resulted in millions of dollars returned to hard-working small business owners as well as enterprise-level companies.

From the time that I starting working in the merchant services industry to when I left to create this website, I've been on the pulse of payments for nearly 15 years. It didn't seem fair to keep this "insider" knowledge to myself. To lift the fog, I've reviewed hundreds of companies, read thousands of user reviews, and learned the pricing tricks of every provider. If you have questions about credit card processing, you can find the answers on this website.

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