Electronic Point of Sale (EPOS)

Electronic point of sale (EPOS), also called more simply point of sale (POS), is a system that performs all the tasks at checkout and provides transactional data. The POS data can be shared and can be used to aid vendors in tracking merchandise on consignment, defined by Michael Levy and Barton Weitz as items not paid for by the retailer until they are sold.

Checkout is the location where transactions occur usually involving the exchange of funds (cash, credit, debit, or checks) for products or services received. POS provides data when a transaction occurs using specially designed hardware and software. The EPOS can be thought of as an updated, data-rich version of the cash register. Data are useful for sales tracking, financial transfers, and inventory control. ...