POS (Point of Sale)

Point of Sale (POS) refers to the place or system where a customer completes a transaction for goods or services — typically when a payment is made and a receipt is issued.

A POS can be physical (like a till or card terminal in a shop) or digital (such as an online checkout or mobile POS app). Modern POS systems often integrate inventory management, sales tracking, and customer data, helping businesses streamline operations.

Example:

A restaurant uses a Square POS system combining a touchscreen till, card terminal, and software that tracks table orders, processes card payments, and updates stock in real time.

Used in:

Retail, hospitality, and service industries for sales processing, reporting, and payment acceptance.