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Fundamentally, a POS system processes transactions, tracks inventory, and gathers valuable business data. The core component is a transaction processing device, which could be a mobile phone, tablet, touchscreen monitor, or a standard PC. Additional hardware, commonly used by retailers, includes cash drawers, Kiosk, barcode scanners, receipt printers, and card readers.
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Types of POS systems;

‍The POS system landscape offers a variety of options, each catering to specific needs. Here’s a breakdown of the four main types commonly utilized by small businesses:
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‍Legacy POS systems: Often referred to as traditional or on-premises systems, these store data locally on dedicated hardware, limiting flexibility.

‍Tablet-based POS systems: These modern solutions leverage tablets (like iPads) for a user-friendly and portable experience.

‍Mobile POS systems: Ideal for on-the-go transactions and in-store customer service, mobile POS systems run on smartphones or compact tablets.

‍Cloud-based POS systems: Offering ultimate flexibility and real-time data access, cloud-based systems store data remotely and can be accessed from various devices.