POS is an abbreviation for point of sale or point of service. This can mean a retail shop, a checkout counter in a shop. POS consists of electronic device used by retail businesses to process credit card transactions. If the customer is present, they swipe or slide their credit card through the machine. This sites has a comprehensive lists of IBM POS Products.
When I was working in a retail shop on a temporary basis, it has POS products installed and ready to take credit cards. If any customer who wants to buy say furniture or carpets, on a large volume or big sum, all they need to do is just to swipe their credit card using the installed POS with a phone line connected.
Having a complete system of POS products installed, the retail shop is able to make more sales in case the clients wish to buy but did not carry enough cash around. Just swiping his credit card through the POS machine and then sign the statement is sufficient to make repeat sales.
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