What is a Point-of-Sale (POS)?

point - of - sale
The location where a Merchant and a cardholder complete a Transaction.
How Does a Point-of-Sale (POS) Work?

Traditionally, a cardholder or customer delivers payment for a good or service at a Point-of-Sale. Older Points-of-Sale used manual devices, such as cash registers, to help protect and organize all payment collected. Today, Points-of-Sale use scales, scanners, and other, newer technologies to collect credit card information. In addition peripherals to tablets and smartphones allow smaller merchants to collect credit card information through a payment service provider.

For more information, read "The Payments System Simplified"
View Whitepaper