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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I'm a former credit card processing sales director who left the industry to start my own a small business. From the time that I starting working in the merchant services industry to when I left to write about it, I've been on the pulse of payments for nearly 15 years. It didn't seem fair to keep this insider knowledge to myself, so decided to build this website to help you research which providers to use and how to save money on rates and fees. 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 here. Simply scroll to the top of the page to find the search bar. You can also message me if you need any guidance.
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