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Merchant Account Glossary:

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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Use of this video does not constitute an endorsement of any kind by CardPaymentOptions.com.

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About The Author

Phillip Parker is a Payments Industry Analyst and creator of this blog, CardPaymentOptions.com. Phillip is passionate about researching merchant service providers and payment industry trends. He is often quoted as an expert source in national publications such as INC Magazine, The Los Angeles Times, Entrepreneur, and many others.

“I started this blog because I was disgusted by the business practices of the merchant services industry. I wanted to empower business owners by providing insight on how to avoid shady merchant account providers and costly credit card processing mistakes.” 

Phillip’s Processor Comparisons

Picking a credit card processor can be a headache, but we’ve made it easy. Phillip recommends comparing the best merchant services providers we’ve researched.

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