Point of sale (POS) (also sometimes referred to as Point of purchase (POP) or checkout is the location where a transaction occurs. A checkout refers to a POS terminal or more generally to the hardware and software used for checkouts, the equivalent of an electronic cash register.A POS terminal manages the selling process by a salesperson accessible interface. The same system allows the creation and printing of the receipt.A Retail Point of Sales system typically includes a computer, monitor, cash drawer, receipt printer, customer display and a barcode scanner, and the majority of retail POS systems also include a debit/credit card reader. It can also include a weight scale, integrated credit card processing system, a signature capture device and a customer pin pad device. More and more POS monitors use touch-screen technology for ease of use and a computer is built in to the monitor chassis for what is referred to as an all-in-one unit. All-in-one POS units save valuable counter space for the retailer. The POS system software can typically handle a myriad of customer based functions such as sales, returns, exchanges, layaways, gift cards, gift registries, customer loyalty programs, BOGO (buy one get one), quantity discounts and much more. POS software can also allow for functions such as pre-planned promotional sales, manufacturer coupon validation, foreign currency handling and multiple payment types.