Point of sale

A point of sale is the place or system where a customer completes a purchase and payment is recorded. It connects checkout, transaction records, and often inventory tracking.

Payment terminal: An electronic device that accepts payment cards or contactless payments at checkout. It captures card or contactless payment details during an in-person sale.
Mobile point of sale: A point-of-sale system operated on a portable device such as a tablet or smartphone. It lets staff complete purchases away from a fixed checkout counter.
Merchant account: A financial account that enables a business to accept and receive card payments. Card sales need an arrangement for receiving settled funds.
Point of purchase: The place or moment when a consumer decides to buy a product or service. Purchase decisions may occur before payment is completed at the point of sale.
Payment gateway: A service that securely transmits online payment information between a merchant and payment processors. Online point-of-sale systems use it to route payment requests.
Self-checkout: A checkout system that lets customers scan and pay for purchases without a cashier handling each item. It shifts scanning and payment tasks from staff to customers.
Payment card: A card or digital credential used to initiate payments from a linked account or credit line. It supplies payment details that the checkout system submits for authorization.
Payment card authorization: The process by which a card issuer approves or declines a proposed card transaction. Authorization is one payment step, not the whole checkout and recording system.
Payment processor: A company or service that handles payment authorization, transaction routing, and settlement for merchants. It helps move a sale from authorization to funds reaching the merchant.
E-commerce: The buying and selling of goods or services through electronic networks, especially the internet. Online stores use digital checkout systems as their point of sale.

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