Modern payment systems, like credit and debit cards, have replaced cash and made it easy for consumers to make purchases both in-person and online. Thanks to electronic payment systems and the internet, you can now buy goods and services worldwide, anytime, day or night.
The Point of Sale System
Many retailers, including big box stores, small retailers and online stores, use what is called a point of sale system to conduct transactions. Also known as POS, this payment processing method has replaced the antique cash register and made credit card purchases more streamlined. Depending upon the size and type of business, the POS device (or hardware) might be that of a tablet, self-service kiosk, chip reader, or even a smartphone. In its simplest form, it involves scanning a barcode and swiping the customer’s credit card to collect their data and begin processing the sale.
There are also more complicated systems that are specific to a particular industry such as that of a restaurant, medical office, bar, pool hall, or beauty salon. Most POS processes also include the issuance of a receipt, either printed, e-mailed or sent by text once the transaction is complete. POS systems might also keep inventory, maintain employee records, manage appointments, and store sales information for tax purposes.
Fixed and Mobile POS Systems
In retail stores, you will often find a fixed POS system. That is, a countertop style POS that looks a lot like a cash register. Restaurants and bars, however, often use a mobile POS system. This is because they are able to accept payments from customers anywhere in the building using a tablet or smartphone. All of the information is stored in the cloud as opposed to a computer station.
Clarus can help you choose the right Point of Sale system that is best suited for your business. We will also work with your team to ensure your POS system is secure and able to protect customers from fraudulent charges and theft.