point of sale

Definition

POS. The physical location at which goods are sold to customers. The point of sale is often more specific than the general building or store where something is sold, typically indicating the piece of technology which is used to finalize the transaction. In many cases, this is a standard cash register at the front of the store; in some cases, such as at a restaurant, the point of sale can be an electronic system which is used by the staff for multiple purposes, in this case including ringing up orders as well as generating the receipt and finalizing the purchase.

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hybrid debt Electronic Funds Transfer Act