Point Of Sale - GCSE Business Definition

Point of Sale (POS) is a system where a retail transaction occurs between a business and a customer. The completion of a sale by processing payments could occur in a physical store or through an online platform. In a traditional retail setting, the POS includes hardware like cash registers or digital systems and software that facilitate card payments and manage transaction records. An efficient POS system is crucial for tracking sales, managing inventory, and ensuring accurate financial accounting. It is an essential concept for GCSE Business students learning about retail operations and customer service.