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.
As a savvy small or medium-sized business owner, you know that you can’t outsell the giant mega-store. You build your customer base because you provide excellent service, an enjoyable shopping experience, and a fantastic value.