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POS knowledge

What is letter: POS stand for?

POS is for point of sale.

What is a point of sale system?

A complex computerized cash register system consisting of computer-related hardware and software. It can be in the form of a single computer and POS software, with POS hardware, for example. pos printer, cash drawer, barcode scanner, etc. or it can include hundreds of computerized POS terminals that are connected together to cover a wide network and area.

POS history

Until the late 1980s to early 1990s, most retailers used cash registers to record sales, temporarily store cash and perform daily, weekly or monthly reports. While the traditional cash register is a powerful device, it lacks the storage capacity, connectivity and flexibility of modern POS systems. As computers become cheaper and the education level of computers increases, retailers are beginning to take advantage of the tremendous benefits that POS systems can achieve when operating businesses in today's increasingly competitive world. In particular, in Australia, the conversion of traditional cash registers in 2000 increased significantly due to the highly publicized “Y2K Bug” and the introduction of the Goods and Services Tax (GST)

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