Point of sale terminal

Point of sale terminal,

Definition of Point of sale terminal:

  1. Electronic retail payment device which (1) reads a customers banks name and account number when a bank card or credit card is swiped (passed through a magnetic stripe reader), (2) contacts the bank and (if funds are available) transfers the customer approved amount to the sellers account, and (3) prints a receipt.

Meaning of Point of sale terminal & Point of sale terminal Definition