Jana Lynch

Jana Lynch is a senior editor at U.S. News & World Report, focusing on home and business topics including software, technology, insurance, and general business and home services. She's spent over a decade writing and editing personal finance and business-related content, helping readers make informed and educated decisions about their purchases. Before joining U.S. News in 2024, she was a senior editor at Investopedia and The Balance and a managing editor at ConsumerAffairs.

A POS system combines hardware and software components so a business can complete a sales transaction. Additionally, the system offers essential features for business operations, such as inventory management, detailed reporting, customer relationship management, and more all in one ecosystem. The hardware component includes the physical equipment required for transactions and accepting payments. This often includes terminals, card readers, receipt printers, kiosks, or a barcode scanner.

Also known as legacy systems, these are generally found in brick-and-mortar stores. They’re fixed systems, consisting of equipment such as a cash register, receipt printer and barcode scanner. Rather than relying on a Wi-Fi connection, a traditional POS system uses an internal network that’s only accessible by other connected devices.