POS stands for “point of sale”. It’s the time and place where a customer pays you. A POS terminal is a device used to process transactions by retail customers.  In a nutshell, a POS device or terminal refers to the hardware and software that allow your business to make sales. There are common types of POS hardware like register, cash drawer, connected device, barcode scanner, receipt printer. On a basic level, it allows to locate items in stock and ring up sales. However, it does more than just that.