POS vs ATM
Summary: Difference Between POS and ATM is that the location in a retail or grocery store where a consumer pays for goods or services is the point of sale (POS). Most retail stores use a POS terminal to record purchases, process credit or debit cards, and update inventory. While An automated teller machine (ATM) is a self-service banking machine that connects to a host computer through a network.
POS
The location in a retail or grocery store where a consumer pays for goods or services is the point of sale (POS). Most retail stores use a POS terminal to record purchases, process credit or debit cards, and update inventory.
Many POS terminals handle credit card or debit card payments and thus also include a magstripe reader. Some have fingerprint readersthat read your fingerprint, which is linked to a payment method such as a checking account or credit card. Once the transaction is approved, the terminal prints a receipt for the customer. A self-service POS terminal allows consumers to perform all checkout-related activities. That is, they scan the items, bag the items, and pay for the items themselves.
ATM
An automated teller machine (ATM) is a self-service banking machine that connects to a host computer through a network. Banks place ATMs in convenient locations, including grocery stores, convenience stores, retail outlets, shopping malls, sports and concert venues, and gas stations.
Using an ATM, people withdraw cash, deposit money, transfer funds, or inquire about an account balance. Some ATMs have a touch screen; others have special buttons or keypads for entering input. To access a bank account, you insert a plastic bankcard in the ATM’s magstripe reader. The ATM asks you to enter a password, called a personal identification number (PIN), which verifies that you are the holder of the bankcard. When your transaction is complete, the ATM prints a receipt for your records.
Also Read:
Difference Between Barcode Reader and RFID Reader
Difference Between Optical Scanner and Optical Reader
Difference Between Scanner and Printer
Difference Between OMR and OCR
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