The moment a customer hands the money to the retailer or merchant for the services or goods, that is the point of sale. The most basic POS system is a receipt book and a cash register. There are different types POS systems of to fulfil the needs of retail businesses, as there is an array of merchants, as well.
According to existco.com.au, some common pieces of point-of-sale equipment in Australia include the following:
- Money counters – These are used to collect data and record transactions as required by management. This equipment ensures the safe storage of cash.
- Point-of-sale terminals – The equipment operates in a similar manner: the money is registered and encoded to other computers.
- Electronic readers– These scan the codes where other data and price information are stored.
- EFTPOS (Electronic money Transfer Point of Sale) terminals – These are used to transfer payment directly and electronically to the retailer’s bank account from the customer’s bank account.
- Scales – These are used to weigh out items for sale.
- Conveyor belt – This is typically used to move goods up to the sales associate in supermarkets.
- Security detachers – These are used as pieces of point-of-sale equipment when security tags need to be removed from merchandise. These tags refer to those on electronics, DVDs, clothing and other items
- Personal announcement (PA) systems – These communicate information and usually used in larger stores.
- Clearance chutes – These are used to clear excess cash safely.
- Imprint machines – These have become rare, as EFTPOS terminals have become increasingly popular. Imprint machines were used on approval cards to process sales. If the EFTPOS terminals are down and fail to process merit label auction, these machines may be used as a backup.
Point-of-sale equipment will remain essential to retail stores for years to come. Make it a point to know the functions of each piece to maximise its benefits.