POS

(Point of Sale, "POS", is an international term).

POS, or point of sale, refers to the time and place where a transaction for the purchase of goods or services is completed. In the context of online payments, POS refers to the virtual place where customers complete their purchases and make payments.

POS

POS stands for Point of Sale and describes the moment when a purchase transaction takes place. Traditionally, POS refers to the physical place where customers make their purchases, such as a checkout in a retail store. In the context of online payments, POS refers to the virtual place where customers complete their purchases online, whether on an e-commerce website, mobile app, or other digital sales channel. Here, various payment methods such as credit cards, e-wallets or online transfers are used to complete the transaction.

POS examples

A customer adds several items to their online shopping cart and completes the purchase on the checkout page, where they select their preferred payment method.

In a mobile app for grocery deliveries, users place their order and pay directly through the app by entering their card details.

A hotel guest settles his bill for the stay online by entering his credit card details on the hotel website.

POS FAQ

  • POS in the online payment space enables customers to complete purchases and payments via digital platforms and facilitates commerce in the online retail environment.

  • The POS system can accept various payment methods, including credit cards, debit cards, e-wallets, bank transfers and other electronic payment methods.

  • Modern POS systems use security measures such as encryption technologies and authentication to ensure transaction security and protect customer data.

  • A point-of-sale (POS) system improves the customer shopping experience by optimizing the checkout process. It enables fast and efficient payment processing, reduces waiting times and increases customer satisfaction. Modern POS systems often offer features such as contactless payments, personalized offers and loyalty programs that further enhance the overall shopping experience.

  • Yes, payment transaction security is critical when using a POS system. It is important to implement encryption protocols to protect customer payment data during transmission. Regular security updates and patches should be applied to POS software to protect against security breaches. In addition, PCI DSS-compliant hardware and software should be used, access should be restricted to authorized personnel, and suspicious activity should be monitored to prevent unauthorized access and data breaches.