What Is a POS Machine?
As the name defines POS as "point of sale," or, in simple terms, it's where the transaction is finalized or the purchase is made. The term itself can have a couple of different interpretations.
In the simplest term, it means the machine you use on the cash register to process credit and debit cards, and any gift cards you accept at your business. Is called a POS machine, and that has an informative screen and the ability to handle every payment type. it also helps you manage inventory and business. Whether your needs take you to the high-end or the low-end, every POS machine has some of the same basic functions. It’s also referred to as MICRO ATM.
The Rise of POS Machine
It was 1879 when Although James Ratty first invented the cash register. with time passing machines get updated and now we have some modern POS Machines. The original POS machine was a simple cash register. It didn't do much by modern standards, but it did keep a record of every sale that a cashier had rung in. From that, as long as you knew how much cash was in the till to start the day. you could work out whether any money had gone missing.
Your daily totals showed you whether your sales were increasing or decreasing, and by counting the number of transactions, you could work out the value of your average sale. If you knew the dollar value of your starting inventory, you could also work backwards from your sales totals to find out if you were losing money to inventory theft or unrecorded sales. These are all basic POS functions, and even the earliest cash registers made it a whole lot easier to run a sales-based business.
As the years went by, cash registers became a lot more capable. They could be programmed to add appropriate taxes to the selling price so that you wouldn't have to work them out manually, and they could also record the tax amounts for accounting purposes. They could provide subtotals by product or product category, and eventually - as computers became cheaper and generally more available - they were designed to interact with computerized back-end software. That's the point in which the traditional cash register transformed into a point-of-sale system, as we use the term today.
Use of POS Machine On Retail store
A modern retail POS machine has more functions than an old-school basic cash register, Before Modern POS machines, it needs to perform define the price of every product; now, however, the prices are pre-programmed into the system and are read from a barcode scanner. That cuts down substantially on the potential for mistakes, and it also improves the accuracy of your sales reports. The POS terminal can be set up to track and record your sales of products and services in just about any way that's meaningful to you, and usually, this ties directly into your accounting software so that information is always at your fingertips.
Advantages of having a POS Machine for your business:
1. No Long Queue Customers will not have to stand in a long queue POS help save time.
2. No Extra Commission For most operations carried out through this device, no commission is charged;
3. Accessibility: these devices are found at almost every step, namely there are in the subway, in shops, in the park, at gas stations, in large shopping centres, at railway stations and bus stations, and now even in villages and small settlements you can find them;
4. Availability The opportunity to pay for the most necessary services: provider and utilities, replenish the mobile phone account, pay for the order via the Internet or transfer funds to repay the loan; POS work for every payment need.
5. Security: security in the field of pickpocketing, since you do not need to store cash, and if you lose or steal a plastic card, you can easily block it, and then restore it. The production of a new plastic card will not take much time, while the entire amount of money will remain on it;
6. POS machines also help you accept payment through international cards.
7. Most often, ATMs accept both cards of their bank and another for a minimum commission.
8. POS machines use End-to-End Encryption. That provides a secure and fast payment transaction.
9. POS machine Help manage inventory.
10. Automatic Reporting It also helps manage the accounts and report automatically
How can you use the Eezib Micro ATM service?
To take the Eezib Micro ATM service you can E-Mail us at Support@eezib.com or call us at: + 91 - 9782009070
