How POS Transaction Works?

What is POS transaction?

The POS transaction takes place when a payment is made by a customer at a cash counter or online store in exchange for products or services provided to them. And the transactions involve two user roles: a buyer and a seller. The systems comprising of software and hardware which keep track of these transactions are termed POS or Point of sale systems.

POS transaction types:

POS transaction has two different kinds of types, it includs POS transaction for online orders and POS transaction for offline orders.

POS transaction for online orders: As the name suggests, this transaction occurs when a customer purchases from an online store, more specifically when they enter their credit card details and the money is transferred to the seller. 

POS transaction for offline orders: When a buyer visits a store and makes the payment for products/services at the cash counter on which a POS is installed, it is termed an offline POS transaction. With offline orders, the money is directly received by the seller without any delay.

Daily transaction works:

The day-to-day transactions are handled with a POS system, and the POS systems consist of hardware devices and software that help sellers manage their businesses by accepting payments. Once the payment is received from the point of sale, the sellers compare the POS data with the sales made per day/month/year to ensure complete accuracy and transparency in the process.

Want to do the transaction, you need to get a POS first, and we are supplier and manufacturer of POS hardware, providing different kinds of POS terminal, please feel free to contact us~