TECHNOLOGY OF MONEY TRANSACTION, THE POINT OF SALES ( P.O.S )MACHINE/TERMINAL.

Good day blutters, firstly what is P.O.S

P.O.S which means point of sales can be define as the point or area where buyers or customers make the payment of the goods and service they purchase. however a sale tariff or stated plans may be payed

( Point of sale ) machine is a built system for operating ATM card payments at the sales points

android (POS)machine: Sourced from Goggle

( P.O.S MACHINE)software is expected to read the credit and debit cards and inserted into the hardware

P.O.S helps us in cases of emergency needs of money, or terms of quickly money or online transaction

It also helps when there are more queue in the ATM machine although on P.O.S machine you will charged per how much your transaction

It's confirm that you will pay a fee of 10% on each of your transaction

How POS WORKS

P.O.S System: Sourced from pexels

The person in charge of the ( P.O.S ) MACHINE would manually enter the prices of purchased items, often with the help of price tickets. They would then take the money, place it in the cash drawer and hand the customer a paper receipt.

Types of POS MACHINE/TERMINAL

1. restaurant p.o.s terminal
   these are the types of machine that are processed to work in a restaurant or eating bar. It's made up of the features that enable quick money/payment transaction

Here is the image

Restaurant (P.O.S) System: Sourced from pexels

1. Android P.O.S machine/terminal
   this is the type of machine that can be operated on android phones...it's based on bank application which will be install on the phone to make credit and debit transaction

Here is the image

mini-android (P.O.S) System: Sourced from Goggle

1. mini P.O.S machine/terminal

These are the machine used in a small sale shop to make transaction and they are knee on their traiff transaction which is 10% on each transaction

Here is the image

Restaurant (P.O.S) System: Sourced from pexels

Limit of payment in POS machine

It believed that P.O.S machine can only pay more or less than 50 thousands naira equivalent to $264 per day however you can only make your next transaction in the next 24hours

major problems related to P.O.S machine

This is common problems faced by costumers using P.O.S when there is network failure or poor service then it might lead to rancour between those involved as the money maybe be delayed or withdrew without bank alert to back it up

Thanks for reading

Collins30