Point of Sale (POS) is the place or system where a transaction is completed, and a customer makes payment for goods or services.
POS refers to both the physical location (checkout counter) and the technology system used to process sales. It includes hardware like card machines, barcode scanners, and printers, along with software for billing and inventory.
POS systems are widely used in retail stores, restaurants, supermarkets, and online businesses. Payment processing is regulated under guidelines by the Reserve Bank of India.
"When you pay at a supermarket checkout counter using a card or UPI, that system is the POS."