To begin with, describing Point of Sale System (POS or POP system) isn’t as easy as pie. This is because it is a wide topic needs to be explained in detail. The Point of Purchase is the point of time when the merchant and the buyer are dealing with each other.
The beginning scene of the process
The merchant calculates the amount, prepares an invoice and finally lets the product go away in lieu of money. Payment methods may vary from company to company. Every company has their own Point of Sale System.
Hence, most companies acting on their Point of Sale System issues an invoice to their clients as a token of their purchase from them. It is simply the responsibility of the merchant to guide in all the acceptable payment methods so that the client can opt for the best convenient method to pay.
The payment in exchange for good
This is also the point where the payment in exchange for good is made. Once a person has availed a service, they may now need to pay the charges at the point of sale as well. It happens in most cases.
Important points as a buyer
As a buyer, you should never forget to get a receipt for the transaction. In this day and age, in most cases; the receipt is being dispensed electronically into the bargain. You must have a receipt or invoice with you whether it is an electronic one or a printed out copy. This is the only proof that you can utilize for returns or anything.
What does this system offer for a merchant?
With regards the calculation process, a merchant should have various means of performing the action without a hassle. Various tools can be used. Some of them are weighing scales, cash registers, accounting software & barcode scanners and so on. In this respect, the Point of Sale System is found to be in the form of an industry. These are for the merchant.
What does this system offer for a buyer?
When talking about the clients, they can also make use of various tools to make a payment. Some of them are payment terminals, touch screens, and good many different software and hardware.