The hardware, software, and machine used to manage an offsite transaction between a merchant and a customer is considered a point of sale system. This includes functions such as credit card processing and receipt distribution.
Commonly associated with the cash register at the checkout counter in a retail store, POS systems operate and process transactions made across a variety of different industries.
These days, POS systems have evolved to handle everything from sales management to inventory control as well as that of mobile-friendly transactions. And with the rise of experiential retail, solutions like Square enable brands to ring up sales from practically anywhere, be it an event or pop-up shop.
With new POS technology, businesses are able to collect important information about customers such as credit card numbers, name, email address, and more. By implementing a tool that connects both in-store and online, marketers can use that data to personalize other interactions with a brand.