A point of sale, or POS, is the system where customers make payments for products or services at the store. In simple terms, a transaction made by a customer at an org's store is a point of sale transaction.
Types of Points of Sales
There are two types of POS available for the retailer’s operations.
On-Premise POS - This is a licensed POS procured and managed by the org through its internal and external IT members within the intranet.
Standalone POS - This is a dedicated POS terminal having its application, internet, and database within the system. Generally found in the small retail units.
Client-server POS - This is usually found in big retail units, where multiple POS terminals communicate with a central system using a back-office machine.
Cloud-based POS - This is cloud-based (hosted) and sold as self or managed services and is configuration driven based on the license details.
Client-based POS - This is a thin client installed in the POS terminal and syncs its operations to the cloud on a timely basis through APIs.
Web-based POS - This is completely browser-based and requires login every time the operation starts. This is completely API dependent.
Most of the POS machines are designed based on the sequence of synchronous events which allows a user to perform multiple actions while performing a retail or financial transaction. A few of such basic events are mentioned below in a sequential order.
Item Scan - Scanning the line items a customer needs to purchase while standing in a queue.
Customer Search - Asking a customer's primary information to check if he/she is an existing member.
Customer Enrollment - Enrolling a customer in the loyalty program using primary, demographic information to make him/her a member of CRM.
Customer Update - Updating the demographic information of existing customers.
Coupon Redemption - Redeeming a customer's coupon on a transaction considering either discount or tender.
Points Redemption - Redeeming a customer’s points on a transaction considering either discount or tender.
Transaction Complete - Completing a transaction and generating the invoice to print.