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EPOS is the abbreviation for Electronic Point of Sale. It handles cashless payments with the EC or credit card. In practice, the term is not used quite uniformly and encompasses both electronic cash register systems in stationary retail as well as the electronic payment processes in online trading.
Frequently, electronic cash register systems are incorporated under the trade name EPOS. The electronic cash register is connected via a PC interface, which connects, for example via ISDN, with the EPOS headquarters to handle the payment process. If the cash register calculates the amount to be paid, then the payment card must be processed through the EPOS reader. After a validation check, the customer can enter the PIN. Immediately, an authorization request is sent to the cardholder bank releasing the amount after the blocking request and account funds have been cleared. The successful completion of the payment is displayed on the POS terminal and a receipt automatically printed.
In addition to billing, the electronic point of sale systems can perform additional functions. The inventory can be automatically updated. Sold goods, after their barcode has been scanned, are being automatically deleted from the electronic warehouse inventory. The goods are then considered sold. Smaller banking services are possible via EPOS as well as the electronic acceptance of lottery tickets.
Electronic Point of Sale also refers to the electronic processes when paying online. The technical processes are comparable to the conventional POS systems in retail. For online retailers, a trusted EPOS is essential, as long waiting times or lack of confidence in the payment methods offered can lead to the termination of the purchase. As with most business records, EPOS's legal documents have a legal retention period of 10 years. They must always be available and immediately readable. In addition, the documents must be able to be evaluated by machine. Therefore, retailers should make sure that the data is not compressed.
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