The specific bank account cannot be issued or reissued to the proper holder for next addresses or advanced by the bank or other financial institution in consideration or payment of an account.
Authorization Code
An order number created by the system and issued by the bank or payment gateway to indicate that a card transaction has been accepted.
Back Office
The internal operational side of a business where non-customer-facing tasks such as the accounts, stock control and payroll and administration are managed.
Barcode Scanner
An electronic device that can scan product bar codes to obtain information about a product, such as pricing and stock information, during the sale of a product or an item count during an inventory check.
Batch Processing
A transaction handling method in which a group of transactions are handled at the same time at scheduled moments instead of as a single one individually.
Bill Splitting
A payment method that allows for one bill to be split between multiple payers or payment method.
Card Reader
A payment device that reads debit or credit cards to authorise and process transactions made with cards.
Cash Drawer
A secure drawer connected to the POS system which is used for storing cash collected during sales and normally opens automatically during sales.
Cloud POS
A web-based point of sale system storing data using the Internet's technology in order to access sales and reports in any location.
Contactless Payment
A fast payment method using NFC technology that allows customers to pay through the tapping of a card or mobile device.
Counter Display
A screen that faces the customer, at the time of checkout which illustrates information that is to be billed such as items to be paid, the total of each item, and the status of the payment.
Credit Card Authorization
The validation step in which the card issuer verifies the available credit and advises to grant or refuse a transaction.
Credit Memo
A Financial Note that is issued to adjust/reduce the outstanding balance of the customer due to return, cancellation or corrections in the billing.
Customer Display
A digital screen that lets customers see details of transactions in real-time when purchasing an item.
Customer Loyalty Program
A set reward system that motivated customers to make purchases again by offering points, discounts or special rewards.
Customer Order Management
The process of recording, tracking and completing the customer's order from initiation to completion.
Daily Sales Report
Consolidated summary of all the sales activity for a single day, with revenue, tax, types of payments, etc.
Data Encryption
A security method that transforms sensitive information into a coded format to prevent sensitive data from being accessed by unauthorized parties.
Discount Code
A promotional code that is used during a bill to decrease the amount that must be paid.
E-commerce Integration
The connecting of online sales platforms with POS systems to synchronise the orders, inventory and customer data.
Electronic Cash Register
A digital sales terminal used to record transactions, total monies and later handle electronic payments.
Employee Management
POS-based tools to track staff attendance, shifts, permissions and sales performance.
End-of-Day Report
A closing report which is generated after business hours to summarize sales, refunds and payment reconciliations.
E-receipt
A receipt sent in electronic form to a customer instead of a paper copy.
Exchange Policy
Defined business rules, on how and when the purchased items can be exchanged.
Gift Card
A prepaid payment option that is issued by a business and for which customers may redeem purchases later.
Hardware Integration
The capability of POS software to connect with physical devices such as printers, scanners and payment terminals.
Hold Sale
A POS function that holds a transaction and saves it to be completed in the later time.
House Account
A credit facility established with a trusted customer, in which purchases can be billed and paid for later.
Invoice Printing
The virtue of generating and printing formal invoices directly from the POS system.
Itemized Receipt
A receipt broken down in detail of the products, quantities, prices and relevant taxes.
Layaway
A purchase arrangement whereby customers reserve items by paying for them in instalments before they are collected.
Loyalty Card
A card that is associated with a rewards program documenting customer purchases and benefits.
Loyalty Point
Reward units bought for purchases that can be spent on discounts or offers.
Magstripe Reader
A device for reading magnetic stripe data on cards which is used in order to process payment.
Mobile POS
POS solution to be run on smartphones or tablets that will allow the processing of sales on the move.
Multi-location POS
A POS system that supports centralised management of different business outlets.
Multi-Store Management
Tools that enable businesses to manage sales, stock and personnel at multiple locations.
Near Field Communication (NFC)
A short-range wireless technology employed in the payment of transactions at point-of-sale and data exchange.
Net Sales
Total sales revenue after the adjustment for returns, discounts and allowances.
No Sale
A POS option which opens the cash drawer without recording a transaction.
Omnichannel POS
POS unified setup combining in-store, online and mobile sales to one system.
Online POS
An internet-enabled POS system which processes transactions and stores data on the internet.
Order Tracking
Monitoring the status of the customer orders from confirmation until delivery.
Over-the-Counter Sale
A direct in-person sale that was done at a physical business location.
Payment Processing
The full workflow of validating, approving and paying the customer payments.
Payment Terminal
A machine that is used to accept and process electronic payments at checkout.
PIN Entry Device
A secure keypad, used by customers, used to enter card PIN during transactions.
Point of Purchase (POP)
The location used for a sale to be brought to completion, usually used for promotional displays in the software.
POS (Point of Sale)
The system and place of the place where the sales transaction is carried out and recorded.
POS as a Service (PaaS)
A subscription-based POS with at least some recurring fees opposed to upfront costs.
POS Integration
The integration between the POS system and other software designed for business operations to streamline their work.
POS Receipt
A transaction record generated by the POS which is either digital or printed.
POS Report
Analytical reports produced from the POS data including sales, stock and operations.
Price Override
A controlled attribute that enables authorised users to manually change the price of items.
Product Code
A unique identifier given to each of the product for inventory and billing purposes.
Purchase History
The stored record of customer buying behaviour used for analysis and for improving service.
QR Code Payments
A mode of digital payment in which the customers read a QR code and finish the payment.
Quick Service POS
A POS solution designed for high-speed environments, such as cafes and fast food outlets.
Receipt Printer
A device that accepts comment cards on a receipt given at the point of sale.
Refund
When the money is returned to a customer after a cancellation or return.
Closure
The end of the shift process or closing up the cash register and reconciling totals.
Remote POS Access
The capability to access and manage POS information from off-site the store.
Retail POS
A POS system designed for use in retailing concerns: it has a plating aspect (billing) and an aspect of inventory.
Return Processing
How product returns are handled (refunds or granting of store credit).
Revenue Reconciliation
The comparison of the POS sales data with the actual received payment.
Sales Audit
A review process to ensure the accuracy and legitimacy of recorded sales.
Sales Report
A structured summary of sales performance for a selected period of time.
Scanner
A device that is used to scan the barcodes or QR codes for quick product identification.
Screened Transaction
A transaction that is subject to security checks in an attempt to minimize fraud risk.
Security Code
A verification code used in the payment of cards to ensure that the card is genuine.
Self-Checkout
A system that enables customers to do billing and payment without assistance from staff members.
Shift Management
Tools that are used to plan, assign and see the working hours of the employees while they are working.
Signature Capture
A digital way of recording customer signatures for validation of transactions.
Split Payment
A payment option that splits the bill up into several payment modes.
Stock Reconciliation
The process of reconciling the physical inventory to the inventory recorded in the company's computer system.
Store Credit
A give-away of money to customers to purchase products at a later time through a non-cash (non-Gift) credit.
Store Management
The coordination of daily store operations such as sales, staff level, and inventory.
Surcharges
Additional charges for transactions added for services or payment methods.
Table Management
A restaurant POS feature that is used to place orders of restaurant tables and the management of restaurant orders.
Tablet POS
A portable POS setup that was run using a tablet device.
Tax Calculation
Automated calculation of relevant taxes in the billing process.
Tax Rate Setup
Configuration of tax percentages under the POS system.
Tax Reporting
Generation of tax related summaries for compliance and filing.
Terminal ID
A unique identifier assigned to each POS terminal to track the transactions.
Tip Adjustments
The ability to change amounts of gratuity after a transaction is completed.
Tokenization
A security method for replacing sensitive card data with non-sensitive tokens.
Touchscreen POS
A POS interface was used that used touch-based interfaces.
Track Sales
The recording and monitoring of sales activity which is a continuous process.
Transaction Code
A unique reference number identified to each sale for identification and audit purposes.
Unified POS System
A single platform where many sales channels are integrated into a single system.
User Permissions
Access controls which govern what each employee is allowed to do in the POS.
Void Transaction
A sale that is cancelled, but which is reversed before the payment is made.
Voucher Redemption
The use of vouchers or coupons during the payment of a bill.
Wireless POS
POS system that runs on wireless connectivity and is used in a flexible way.
Zero-Balance Transaction
A transaction in which payments are not due at the end of the transaction, after adjustments therein.
Z-Report
A final summary report that is generated at the end of a business day or business shift.
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Distribution Software
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