What is a POS?

In business, POS stands for point of sale. The point of sale is the location and instance at which a transaction occurs. This doesn’t mean just cash registers – it can include online carts and checkouts, too. Payments made using a smartphone or tablet equipped with a card reader also qualify, as do transactions made on these devices via QR codes from payment services such as PayPal. The point of sale is also typically where sales tax is calculated and charged.