A point of sale (POS) system or solution is a payment software and hardware combo that both large and small businesses can use for credit and debit card transactions. Powered by their POS software, these next-generation devices also allow you to create and access customizable reports, more effectively manage your employees and customers, and track your inventory levels. They can even give you access to the real-time data you need to more effectively market to your customers. There are several types of POS systems, including traditional countertop terminals with dedicated keypads and displays, and mobile POS (mPOS) solutions that allow you to accept payments on the go. Consider that POS systems can easily be augmented with barcode scanners, cash drawers, and receipt printers and it’s easy to see how the right system can be a large or small business’s best friend. Here’s how POS systems work: Your non-cash paying customers simply swipe (magstripe cards), dip (chip cards), or tap (contactless payments). Or, they can pay with a mobile wallet on their smartphone or wearable. Your POS system then forwards the cardholder’s details to your merchant services provider, who contacts the card-issuing bank to see if the transaction is legitimate and that the cardholder has enough funds for an approval. At the end of the transaction, the POS system can generate a physical or digital receipt.

All Payanywhere payment processing devices are PCI-compliant. With certified, point-to-point encryption and military-grade tokenization, we protect credit card data in all transactions, including payment processing, storage, and transmission.

There are two fast funding options. With Next Day Funding, transactions processed and closed Monday through Friday before 10 p.m. ET will be deposited into your account the next business day; transactions closed on the weekend are deposited Monday. With Same Day Funding, all transactions are closed and processed before 10:30 a.m. ET are deposited the same day.

Absolutely. You can partner with Cornerstone risk-free with no obligation and no hidden fees. You can apply in minutes and be approved in as little as 24 hours.