Point of Sale PaymentsMerchants use point of sale systems to take customer payments by means of credit card where Debit payments are collected straight away in a store that uses a POS system to run the payment. The terminals that are used in Point of sale systems are typically connected directly to a bank that can credit user's account and be evidence for payment on the merchant's books. A financial tracking system is connected directly to POS terminals through systems that process both credit and debit card payments.
The merchant is charged a fee each and every time a POS system is used. They receive additional benefits from POS systems like ability to display the transaction, calculate taxes and discounts.
Point of Sale Equipment
POS equipments can print copies of the sale for both the customer and the merchant. The copy of the transaction can be printed when a merchant has a printer attached to the system. The merchant services companies provide printers that are either dot matrix operations or thermal imprinting where thermal printers cost about twice as much as dot matrix printers, but they are faster and quieter.
Merchants running POS systems attach a cash drawer to the system to hold the credit card receipts. Separate machines that read a credit card when swiped provide a keypad on which a customer can input a pass code. Infrared guns that read bar codes also integrated into a POS system.