What is POS Payment or POS Transaction ?

The previous introdutions of pos and pos related products are easy to be obtained.

More products’ technological questions can be cliked here to get faster solutions.

  • What is a pos payment ?

POS is an abbreviation for Point of Sale. POS transactions typically happens whenever a customer makes a specific value to a merchant, whether physically or online. The function of POS seems to keep track and document of all transactions that take place between a customer and a merchant.

point of sale solution for retail store
  • Is there any expamle of pos transaction ?

A supermarket is the ideal illustration of an actual POS interaction. 

For example, assume you arrive at a retail chain and start picking up a few items before walking to the checkout desk. The supermarket employee scan your specific items at the checkout counter and prints a receipt or a bill.

A POS transaction happens once you pay for something using cash or a credit card.

pos system terminal for supermarket

And Point-of-Sale transactions are quite commonplace at restaurants and coffee shops. Assuming you finish your dinner and pay for it via your credit card, online wallets, or cash. The server swipes your credit using a scanning mechanism, as well as the POS transaction takes place.

  1. A customer buys items from a merchant.
  2. The merchant reads the items and calculates the cost.
  3. The customer pays for goods online or in-store.
  4. A pos transactions happens.
  • How many types of pos transaction ?

1) POS Online Transactions

Online POS transactions are performed when a customer buys products or services through the internet. For illustration, a customer signed into the Amazon website and picked up certain goods. This POS payment occurs whenever the customer completes a transaction using only a credit or electronic wallet. Nevertheless, through Online POS Transactions, the seller needs to queue for the cash since a query for authorization or billing the purchaser’s account is issued to the card issuing institution.

2) Office POS Transactions

Offline POS Transactions are processed whenever a purchaser physically enters a shop and orders a few products. In this circumstance, the seller receives the money instantly.

pos transaction with card

3) Product Returns

For certain circumstances, the consumer intends to return the items due to quality or other potential difficulties. As a result, a notification for reversal might be submitted towards the card-issuing institution; transaction might be returned partially or completely.

  • How to handle the pos transactions in business ?

POS systems are composed of hardware and software that support merchants in managing their businesses by receiving payments.

1) POS Hardware Solutions

The cash register, receipt printer, MSR VFD and barcode scanner are samples of hardware systems. Originally, hardware systems had been installed on-site.

cash resgister pos system machines

2) POS Software Systems

POS software offers mobile POS which is cloud-based.

Some sellers are using a simple cash register as their Point of sale system, while many others utilize a far more complex system of POS that handles anything including inventory management to the point of sale record.

3) Importance of pos system

Once the transaction from the point of sale is confirmed, the merchants evaluate the pos terminal data to the total sales per day/month/year record to guarantee total correctness and transparency in the store operation. In principle, they match POS total sales with cashflows.

Weclome to your questions and inquires about point-of-sale and products,any trouble can be acceptant by vmax pos.

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