A point of sale (POS) is a place where a customer executes the payment for goods or services and where sales taxes may become payable.
Point of sale (POS), a critical piece of a point of purchase, refers to the place where a customer executes the payment for goods or services and where sales taxes may become payable. It can be in a physical store, where POS terminals and systems are used to process card payments or a virtual sales point such as a computer or mobile electronic device.
As businesses have different profiles they need various point of sale systems as well. For example, restaurants, retail businesses, and grocery stores all have their specialties and that is why they need a POS system that meets their specific needs.
A food store requires a scale at the point of sale and a cafe needs to have an opportunity to customize menus in case of special offers.But in general, there are two primary types of businesses that need the point of sales system. These are retail companies and hospitality businesses such as restaurants and hotels. That also means that there are mainly two suitable POS systems one for retail and the other for restaurant businesses.