Point of Sale Equipments in Australia

In today’s competitive retail landscape, business owners require more than just a simple payment processing tool like a cash register . They require a comprehensive solution that is capable of micro-managing the retail operations such as managing inventory, building and maintaining customer relationships, managing employees, analysing and generating sales reports, and more. Thanks to the constant technological advancements that the cash registers from yesteryear have evolved into an all-inclusive solution we now know as the ‘point of sale (POS) system’. As the name implies, a point of sale is the place in a store where a customer pays for the product/service and gets a receipt from the merchant/store executive with all the purchase-related information like date and time of purchase, product name and SKU number, price, tax amount, etc. This receipt acts not just as a transaction proof but is also a marketing tool for business owners. These slips also come in handy if the customer wishes...

A report put forward in 2020 stated that “the Australian POS market is anticipated to grow at a CAGR of more than 10% during 2020-2024 on account of technological advancements, affordable internet connectivity and increasing penetration of smartphones”, which, it is. Like any other industry, technological advancements have revamped retail as well. Gone are the days when retail businesses relied on bulky cash registers to manage their day-to-day transactions. The introduction and evolution of the point of sale (POS) system simplified and refined retail business operations. Quick Overview of the Point of Sale (POS) System: A point of sale is the place in a store where transactions take place. In other words, it is the place where the customers pay for the chosen product/s and the merchant issues a payment receipt, thereby completing a transaction, for example, a checkout counter at a retail store. To facilitate the transaction process and the overall business operations, a set of hardwar...