Point of Sale (POS) Glossary
A split payment divides the cost of a single purchase into two or more transactions. Split payments allow a customer to pay by more than one payment method, for example, cash/credit, two different credit cards, or cash/check. Payment from all sources is processed simultaneously during the sale and reflected on the same receipt.
A robust point of sale system can accommodate multiple payment sources, and a POS can refund back to the original payment methods.
There are various reasons why a customer may request to make a split payment. Causes could include: they have limited remaining credit on a card, they want to share the cost with someone else, or they may have some cash on hand that they want to use, but not enough for the entire purchase.
The most comprehensive set of glossary terms in point of sale industry.
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