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What does POS mean with banking?

Updated: 9/19/2023
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13y ago

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POS stands for Point Of Sales. A POS is a place through which a sale transaction is done by a retail shop owner using the customer's credit/debit card. The bank would make the payment to the show owner for the transaction done on his POS machines (provided the customer validates it with a PIN or a Signature)

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13y ago
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