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<p>The <b>point of sale</b> (<b>POS</b>), or <b>point of purchase</b> (<b>POP</b>), is the time and place at which a retail transaction is completed.  At the point of sale, the <a href="page.php?w=merchant">merchant</a> calculates the amount owed by the <a href="page.php?w=customer">customer</a>, indicates that amount, may prepare an <a href="page.php?w=invoice">invoice</a> for the customer (which may be a cash register printout), and indicates the options for the customer to make payment.  It is also the point at which a customer makes a payment</p><p>
<a accesskey="3" href="page.php?w=point_of_sale&amp;p=2">3.Next</a>
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