Glossary
What do the technical terms mean
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Payment does not have to be complicated. However, there are technical terms that are often not common.
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Point Of Sale
Point of Sale (POS) is a billing system where the customer pays the merchant with his bank card and by entering his PIN. The booking from the customer's account to the merchant's account is made immediately.
Cash register systems
However, POS systems are not only used to pay for goods. Bonus programs enable retailers to record their customers' preferences. Today, POS systems also have the option of exchanging data with materials management and financial accounting. Customer statistics are another advantage for sales planning for certain product groups.
Hardware and software
There are some providers that offer software for POS systems (ideally matched to the hardware). The advantage of the separation between hardware and software is that the systems can be adapted exactly to the needs of the respective retailers and product groups.