How do POS systems work?

Posted by Olivia Jackson on March 1st, 2019

POS (Point-Of-Sale) system is an effective modern tool which reduces paperwork, helps run a business smoothly and also save time significantly.

What is POS?

A point-of-sale system let customers pay for goods and services. It is used to handle sales transactions, manage employees, record and track inventory, and keep your business in combating shape. A POS system can help you consolidate processes and collect data that provides worthy insight so you can make informed business decisions. Getting an absolute POS system typically includes a coalition of hardware components, softwares needed, its installation, and employee training. There exists numerous merchant service provider over USA which provides different merchant processing solutions. Merchant Processing solutions is one among them which deliver merchant processing solutions such as PoS system for various businesses, online payment processing solutions,merchant credit card services all around Maryland and other parts of USA.

How it works..?

The setup will differ in look and functionality based on your choice of technology and the payment methods you accept, whether you are interested in printing paper receipts, and how you want to record sales and organize end-of-day bookkeeping, and the inventory systems you have in place for your products.

The staff handling the transactions use the frontend interface, particularly on a touchscreen monitor or a tablet screen. The backend is usually accessed separately in a browser or application window either on the same device or another computer or mobile device. Hardware components include-

• Interface/device where you register transaction details:  cash register with buttons, touchscreen PC monitor or mobile device with a POS app.
• Cash drawer:  stores the daily earnings and cash float along with the receipts, vouchers and slips relevant to accounting.
• Receipt printer:  prints the receipts for customers or provide end-of-day reports for cashing up.
• Barcode scanner:  Commonly linked with the POS system’s stock level counts so it automatically updates product counts according to items sold.
• Card machine: Used to handle payments made by credit or debit cards or mobile wallets via NFC.
• Network devices:  you’re likely to need a network setup for an internet connection or to link up your computer system on the premises. This could be for e.g., a modem, a router or hub connecting several local computers.

If you are a new business owner, you can feel free to contact Merchant Processing solutions to help you decide if a POS system will work well for your business.