As the definition implies, POS does not refer to the order entry process, but rather it refers to a physical location where customers can purchase goods and services. Traditionally POS transactions occur in retail brick and mortar stores, as well as service businesses such as restaurants, movie theatres, hair salons, mechanic shops etc.
A POS terminal is a physical electronic device used to capture payment cardholder data at the source of the transaction. A POS terminal will generally be able to read the information off of a customer’s credit or debit card and then process the payment, printing a receipt.
