POS simply stands for Point Of Sale, which refers to the place at which transactions take place.
Your POS machine (POS system or POS terminal) is the device that's used to add up and take payments for what's being purchased.
The latest POS technology strives to get customers through the payment phase as fast and efficiently as possible, which is good for your customers and could benefit your ‘cost of sale’.
Managing vouchers and other promotions can be quicker, and POS machines are also useful for managing loyalty programs.
A change of mind at the till could be simpler to manage too, with the POS machine deducting products as easily as adding them - and managing refunds.