Retail industry is evolving and there has been significant establishment of new tools to make payment processing easy and fast. Square is one of these tools that is influencing the retail market in a very productive way. Let's have a look at the origin where Square was developed and distributed to the retail and hospitality business:
Square was founded in 2009 and is headquartered in San Francisco, with offices in the United States, Canada, Japan, Australia, Ireland, and the UK. Square creates tools that help sellers start, run, and grow their businesses.
Square enables sellers to accept card payments and also provides reporting and analytics, next-day settlement, and chargeback protection. Square’s point-of-sale software and other business services help sellers manage inventory, locations, and employees; access financing; engage buyers; build a website or online store; and grow sales.
This is an overview of Square, now we will have a look at Point of Sale (POS):
A point of sale, or point of purchase, is where you ring up sales for customers. When customers check out online, walk up to your counter, or pick out an item from your stand or booth, they’re at the point of sale. Your point-of-sale system is the hardware and software that enables your business to make those sales.
A POS system allows your business to accept payments from customers and keep track of sales. It sounds simple enough, but the setup can work in different ways, depending on whether you sell online, have a physical shop, or both.
In the past, a point-of-sale system referred to the cash register at a shop’s counter. Today, modern POS systems are entirely digital, which means you can check out a customer wherever you are. All you need is a POS app and an internet-enabled device, like a tablet or phone.
The above discussion is just an overview of Square and Point of Sale for basic understanding about using Square for your business. It has many benefits which makes your business more productive and reliable. We will discuss the Square benefits, accessories, Square for Retail, Square for Restaurant, and so many other topics in the upcoming days.