When people discuss point-of-sales system, what actually does it mean?
Answer by Chris Souther:
A great question! Full disclosure, I work for VeriFone. In fact, I wrote a blog post recently that attempted to bring some clarity to the market around the term "Mobile Point of Sale" but you can use the same logic here.
Even within VeriFone, we often intermix POS when talking about the big traditional POS you see at the top (and which we sell in the Petro market) and the smaller terminal POS you see here at the bottom. Interestingly, most big POS systems either have a card reader integrated into them, or they allow you plug a terminal like the one pictured on the bottom (Vx 510) into them. Conversely, you don't necessarily need a big POS in order to process payments when you have something like the Vx 510.
But this confusion is often seen when media discusses POS and usually, they provide little clarification as to which of the above they are referencing. The capability differences are huge and it's important to know what is what when you hear the term POS. But now, if you hear "terminal" you will know they are talking about the little device on the bottom.