Point of Sale or abbreviated as POS is defined as a location where credit card transactions are performed with the cardholder present, such as a retail store. The card is read magnetically, and the cardholder’s signature is obtained as insurance against the transaction. This is the most secure form of credit card commerce. It is the physical location where a sale is completed. Usually used as “POS terminal” to refer to the credit card terminal (equipment).
For a retail outlet, it can installed used point of sale using ibm pos equipment for the NCR point of sale to take in credit card payments. This is useful in case the customer did not carry too much cash around or did not have enough cash in his wallet, but still able to make a purchase using his credit card. With this facilities installed, shoppers are able to buy expensive items for the household like bedroom sets, washing machines, refridgerators, etc by just using their credit cards.
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