Point of Sale (POS) Glossary
When an electronic payment is made at a point of sale terminal, it appears on a customer’s account as pending. When the bank initiates the final posting, the charge becomes confirmed, and this is known as the settlement date.
Customers will generally see items remain pending after a POS charge for a few days as the transaction is processed. When it is confirmed, the pending charge will change on their account to the final posting.
If a charge does not confirm due to a cancelation or other reason, the pending charge will not ever confirm and will have no settlement date. The amount of the charge might change between when the transaction occurred and the settlement date, for instance, if a tip was added to the total.
An eCommerce website is open 24/7 and accessible from all over the world. Being online and having physical store opens your business to a global market.
You’ve probably been at the register at the grocery store and asked if you wanted to contribute money to a charity as you checked out. Maybe you donated, or perhaps you found it was annoying. It might have depended on your mood that day, or possibly the charity was a deciding factor.