A POS system, which stands for point of sale systems, are the place in which monetary transactions or sales take place. While today’s businesses operate from a wide variety of these technologically advanced systems, they have not always been so advanced. Until the invention of the debit and credit card, most consumers bought and paid for their purchases using cash or checks, which were stored in a cash register since its invention in 1870.
The cash register was the main form of payment and transaction for the next one hundred years, until the invention of the bar code, which at the time was the best possible solution for managing transactions. The creation of the Universal Product Code (UPC) allowed business owners to use scanners to process and inventory the codes, making transactions much swifter for both the consumer and the business owner. From this point on, the past 40 years has seen a tremendous growth with many new inventions in POS systems.
Business can now choose between a variety of forms of POS systems, including mobile POS card readers, wireless credit card processing machines, signature pads, PIN pads, and the use of debit and credit cards. Mobile POS systems are perhaps the most popular choice. These systems allow business such as restaurants to bring the tablet or credit card reader to the customers’ table and process the payment from there. This is easy and convenient for both the customer and the business.
As you can see, the history of the POS system has changed significantly over the years, but the common theme is that there has always been business and transactions to be made. Chances are the POS systems will continue to innovate and change throughout the coming years and businesses will continue to be successful as a result.