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Full Glossary List
Apple Inc.’s mobile payment and digital wallet service that permits customers to pay via their iPhones.
All-In-One point-of-sale includes terminals, cash drawers, credit card reader, receipt printer, software updates, POS software, loyalty and gift card programs, online ordering, cloud back office, and customer support.
A device that reads a specific product’s barcode of with a laser and sends the information to the POS system. These can be wireless, counter-embedded, or connected to kiosks.
Software in final development. In the POS industry, the provider launches new software releases in beta versions.
Customer Facing Display. A part of the point-of-sale terminal that faces towards the customer, allowing you to display order, price, tipping, and customer signature information.
Refers to internet services, applications, or resources accessible to users via the Internet from a cloud computing provider’s servers.
Card Verification Value. On the back of your credit or debit card is a 3-digit number on Visa, Mastercard, and Discover credit or debit cards. American Express is a 4-digit numeric code.
Central Processing Unit. A physical computer device that processes information as needed by a program. This can reside in its own standalone box or can be part of a larger multi-use device, such as an All-In-One interface.
Electronic Benefit Transfer. An electronic system that allows state welfare departments to issue benefits via a magnetically encoded payment card.
Electronic Data Capture. An interactive document management system that simplifies and speeds up registering data reports.
The computer-to-computer exchange of business documents in a standard electronic format between business partners.
Europay, Mastercard and Visa. A global standard for cards equipped with computer chips and the technology used to authenticate chip-card transactions.
A system that users put in place to communicate between only two users on receiving ends that can read the message. This protects data and makes processes and files private and secure.
Fixed Point of Sale
A point-of-sale terminal that replaces legacy cash registers with a modern, computerized platform.
A complete list of items within a venue.
Software management tool that is either integrated or not with a point-of-sale system to keep track of inventory.
Kiosk (AKA Self-Serve Kiosk)
A point-of-sale device that allows customers to make their own orders and checkout without the need of an employee. Incorporating consumer self-order kiosks into businesses ensures shorter wait times and larger order sizes.
Near Field Communication. A short-range wireless connectivity standard that lets devices communicate when in close contact with one another due to magnetic field field induction.
Payment Card Industry Data Security Standard. Self-imposed industry regulations by the credit card and financial industries to companies that accept credit card payments. They must abide by PCI compliant hosting providers to host date securely.
The devices and software where sales are made.
An enhancement to EMV credit or debit cards that allows customers to insert their cards into a reader, rather than traditionally using the swipe method.
Return On Investment. The ratio between the profit and cost of an investment.
Stock-Keeping Unit. A number or code assigned to a product to identify the price and other various characteristics to distinguish. Allows for quicker transactions.
When customers want to split up their check by order or evenly by total.
When there are two or more payment methods, like cash, credit card, mobile payment, being used for a single transaction.
The act of processing a transaction at the register.
Paper slips that are printed by the kitchen printer with item preparation information.
The code that distinguishes the transaction with the POS database.
Update or Release
When the latest version of your POS software is loaded.