Point of Sale (or POS in its abbreviated form) is the phrase used to refer to the point—or location—where a sales transaction takes place, such as a checkout line or retail counter. A Point of Sale System is the term used for the combination of computer hardware and software that actually manages the sales transaction. There are many benefits of using a point of sale system over a traditional cash register, since a computer is able to capture, store, share, and report data (such as sales, payment, or customer information). At the point of sale, the merchant calculates the amount owed by the customer, indicates that amount, may prepare an invoice for the customer, and indicates the options for the customer to make payment. A POS system saves time and duplication of work, and increases efficiency and accuracy in inventory, reporting, ordering, and providing excellent customer service.
The main industries where POS systems being used are retail, service and hospitality (restaurants, hotels, hair & beauty).