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Point of Sale
  Point of Sale or POS is a system comprised of both software and hardware and is defines the area where the terminal is located to process transactions by customers.  

From a merchant standpoint, the point of sale or POS represents the equipment which process credit card transactions and where the cardholder is present and the card can be swiped at the POS terminal.

Point of Sale systems are able to offer retailers and other businesses a streamlined method of monitoring and managing inventory along with streamlining the checkout process into one unit.