Glossary
Point of Sale (POS)
Tags: Glossary
1) The time and place at which a sale occurs, such as a cash register in a retail operation or the order confirmation screen in an online session. Supply chain partners are interested in capturing data at the POS because it is a true record of the sale, rather than being derived from other information such as inventory movement. 2) Also, a national network of merchant terminals at which customers can use client cards and personal security codes to make purchases. Transactions are directed against client deposit accounts. POS terminals are sophisticated cryptographic devices with complex key management processes. POS standards draw on activity-based management (ABM) network experiences and possess extremely stringent security requirements.
What is Point of Sale (POS)?
Point of Sale (POS)
The Point of Sale (POS) refers to the time and place at which a sale occurs. In a retail operation, this is typically the cash register where customers make their purchases. In an online session, it can be the order confirmation screen where customers finalize their transactions. The POS is of great interest to supply chain partners because it provides a true record of the sale, unlike other sources of information such as inventory movement.
One important aspect of the POS is its role in capturing data. By recording the details of each transaction, the POS system allows businesses to gather valuable information about their sales. This data can be used for various purposes, such as analyzing customer preferences, tracking inventory levels, and making informed business decisions. The accuracy and reliability of the data captured at the POS make it a crucial source of information for supply chain management.
In addition to its role in retail operations, the POS also refers to a national network of merchant terminals. These terminals enable customers to use client cards and personal security codes to make purchases. When a transaction is initiated at a POS terminal, it is directed against the customer's deposit account. This network of POS terminals is supported by sophisticated cryptographic devices with complex key management processes.
To ensure the security of transactions, POS terminals adhere to stringent security requirements. These requirements are designed to protect sensitive customer information and prevent unauthorized access. POS standards draw on the experiences of activity-based management (ABM) networks, which have developed best practices for secure transaction processing.
In conclusion, the Point of Sale (POS) is the time and place where a sale occurs, whether it is a cash register in a retail store or an online order confirmation screen. Supply chain partners value the data captured at the POS because it provides an accurate record of sales. Additionally, the POS refers to a national network of merchant terminals that enable customers to make purchases using client cards and personal security codes. These terminals are equipped with sophisticated cryptographic devices and adhere to stringent security requirements to ensure the safety of transactions.