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Point of Sale

A point of sale is a manner or place in which a financial transaction has occurred, where money is exchanged in return for a product or service. A point of sale – or POS – can be in reference to a particular transaction method, like via a cash register or checkout counter, or location, such as a mall, farmer’s market or brick-and-mortar store. The advancement of technology has led to an explosion in POS options, where instead of a money box or basic cash register, other methods include credit and debit card terminals, electronic card or mobile device scanners or self-checkout counters. The popularity of mobile devices has spawned more mPOS systems as well, in which sales associates can go to the customer, a process to make checking out faster and more streamlined, a methodology colloquially known “line busting.”