A point-of-sale terminal (POS terminal) is
- "a hardware and software system used for checkout at a retailer."
- "a physical device used by a merchant to process payments for goods and services purchased by a customer.
The technology, which is deployed in supermarkets, department stores, discount chains, and other commercial facilities, offers several kinds of services:
- check validation and credit card authorization,
- direct transfer of funds from a customer's account to the merchant's account by means of a debit card; and/or
- banking services; i.e., direct withdrawal of currency from (or deposit in) a depository account, using the merchant's cash drawer and sales personnel.