Definition

Getting the tools and support needed to accept electronic payments in your store or online. Reliable services help keep transactions smooth and secure.

What to consider

  • Consider ease of use and training requirements.
  • Check for integration with other systems.
  • Ensure reliable technical support.

Real world scenarios

  • A boutique upgrades its POS system to manage both sales and inventory efficiently.
  • A restaurant adopts a touchscreen POS to speed up order processing.
  • A retail store implements a cloud-based POS for real-time sales tracking.

Related terms

Entrepreneurial Finances