Point of sale in the context of "Sales"

⭐ In the context of Sales, a Point_of_sale is most accurately described as…

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⭐ Core Definition: Point of sale

The point of sale (POS) or point of purchase (POP) is the time and place at which a retail transaction is completed. At the point of sale, the merchant calculates the amount owed by the customer, indicates that amount, may prepare an invoice for the customer (which may be a cash register printout), and indicates the options for the customer to make payment. It is also the point at which a customer makes a payment to the merchant in exchange for goods or after provision of a service. After receiving payment, the merchant may issue a receipt, as proof of transaction, which is usually printed but can also be dispensed with or sent electronically.

To calculate the amount owed by a customer, the merchant may use various devices such as weighing scales, barcode scanners, and cash registers (or the more advanced "POS cash registers", which are sometimes also called "POS systems"). To make a payment, payment terminals, touch screens, and other hardware and software options are available.

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👉 Point of sale in the context of Sales

Sales are activities related to selling or the number of goods sold in a given targeted time period. The delivery of a service for a cost is also considered a sale. A period during which goods are sold for a reduced price may also be referred to as a "sale".

The seller, or the provider of the goods or services, completes a sale in an interaction with a buyer, which may occur at the point of sale or in response to a purchase order from a customer. There is a passing of title (property or ownership) of the item, and the settlement of a price, in which agreement is reached on a price for which transfer of ownership of the item will occur. The seller, not the purchaser, typically executes the sale and it may be completed prior to the obligation of payment. In the case of indirect interaction, a person who sells goods or service on behalf of the owner is known as a salesman or saleswoman or salesperson, but this often refers to someone selling goods in a store/shop, in which case other terms are also common, including salesclerk, shop assistant, and retail clerk.

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Point of sale in the context of Salesclerk

A retail clerk, also known as a sales clerk, shop clerk, retail associate, or (in the United Kingdom and Ireland) shop assistant, sales assistant or customer service assistant, is a service role in a retail business.

A retail clerk obtains or receives merchandise, totals bills, accepts payment, takes orders, and makes change for customers in retail stores such as drugstores, candystores, or liquor stores (thus, the position may partially overlap with that of a cashier or teller). They clean shelves, counters, or tables; stock shelves or tables with merchandise; set up advertising displays or arrange merchandise on counters or tables to promote sales; stamp, mark, or tag prices on merchandise; and obtain merchandise requested by customers or receive merchandise selected by customers. They are expected to answer customers' questions concerning location, price, and use of merchandise; to total the price and tax on merchandise purchased by customers to determine a bill; and to accept payment, make change, and wrap or bag the merchandise for customers. They may remove and record the amount of cash in the register at the end of the shift. A retail clerk, particularly in a smaller store, may keep records of sales, prepare inventories of stock, or order merchandise.

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Point of sale in the context of Self-service

Self-service is a system whereby customers acquire (or serve) themselves goods or services, paying for the items at a point-of-sale, as opposed to a shop assistant or clerk acquiring goods or providing services in addition to taking payment. Common examples include ATMs, coin-operated laundrettes, self-service checkouts, self-service petrol stations, and buffet restaurants.

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Point of sale in the context of Keypad

A keypad is a block or pad of buttons set with an arrangement of digits, symbols, or alphabetical letters. Pads mostly containing numbers and used with computers are numeric keypads. Keypads are found on devices which require mainly numeric input such as calculators, television remotes, push-button telephones, vending machines, ATMs, point of sale terminals, combination locks, safes, and digital door locks. Many devices follow the E.161 standard for their arrangement.

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Point of sale in the context of Delivery (commerce)

Delivery is the process of transporting goods from a source location to a predefined destination. Cargo (physical goods) is primarily delivered via roads and railroads on land, shipping lanes on the sea, and airline networks in the air. Certain types of goods may be delivered via specialized networks, such as pipelines for liquid goods, power grids for electrical power and computer networks such as the Internet or broadcast networks for electronic information. Car transport is a particular subgroup; a related variant is Autorack, which involves the transport of autos by railroads.

Delivery is a fundamental component of commerce and trade, and involves transport and distribution. The general process of delivering goods is known as distribution, while the study of effective processes for delivery and disposition of goods and personnel is called logistics. Firms specializing in delivering commercial goods from the point of production or storage to their point of sale are generally known as distributors, while those that specialize in the delivery of goods to the consumer are known as delivery services. Postal, courier, and relocation services also deliver goods for commercial and private interests.

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Point of sale in the context of Payment card industry

The payment card industry (PCI) denotes the debit, credit, prepaid, e-purse, ATM, and POS cards and associated businesses.

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