How do POS systems work?

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 allows customers to pay for goods and services. It’s used to process sales transactions, record and track inventory, manage employees and keep your business in fighting shape. A POS system can help you streamline processes and collect data that provides valuable insight so you can make informed business decisions. Getting a complete POS system typically includes a combination of hardware components, software applications, installation, and employee training. There exists numerous merchant service provider over USA which provides different merchant processing solutions. MerchantPro 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 processing the transactions use the frontend interface, normally on a touchscreen monitor or tablet screen. The backend is accessed separately in a browser or application window either on the same device or separate 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: Used to store the daily takings and cash float along with cheques, vouchers, receipts and slips relevant to accounting.

• Receipt printer: Used to print receipts for customers or 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 process payments made by debit or credit 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 e.g. a router, modem 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.