point of sale (POS)
POS systems use personal computers or specialized terminals in combination with cash registers, optical scanners or magnetic-stripe readers to capture and record data at the time of transaction. POS systems are usually online to a central computer for credit checking and inventory updating. Alternatively, they may be independent systems that store daily transactions until they can be transmitted to the central system for processing.
- Part of Speech: noun
- Industry/Domain: Technology
- Category: Information technology
- Company: Gartner
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