POS in the Late 1800s
Physical payment at the point of sale was typically required to complete a purchase.
The beginnings of the first Point-of-sale (POS) system dates back as far as the late 1800s. James Ritty American saloon owner, was known as the “father of the cash register”.
In 1914
Western Union launched electronic fund transfer “Metal Money”, one of the first consumer credit cards
Evolution of the Systems /n The first computer-driven cash register, which resembles what we have today, was developed by IBM in 1973 – and it marked the first commercial use of a computer-based system used by the restaurant industry.
Then in the 1980s
In 1989, they made paying bills easier by enabling customers to use Western Union to pay for auto loans, mortgages and other bills from thousands of businesses.
The first credit cards were introduced into society, and the evolution of POS terminals accelerated when they had to be updated accordingly to suit the business industry.
McDonalds started rolling out POS terminals
in 1984, Invented by William Brobeck. The model they used was one of the first microprocessor-controlled cash registers.
In the 1990s
As computers became more sophisticated in the 1990s, so did POS systems, with the first e-POS (Electronic Point Of Sale) system, Nisyst, launched in 1992.
In the early 2000s
Powerful computers and more advanced networks led to an evolution of the POS, which began to develop capabilities beyond sales transaction processing.
As internet connections became faster, ePOS systems found popularity among businesses due to increased convenience and lowered cost.
POS systems in the 2010s
Since 2010, modern POS systems have become increasingly sophisticated, allowing business owners to manage both front-end and back-end operations with ease.
In 2018
Damen was established in 2018. It is a self-funded Egyptian company affiliated with “Egypt Smart Card. It was established to provide electronic payment services that target individuals and organizations such as multiple billing services, electricity bills, gas bills, phone bills and many others.
Damen is distinguished by its wide spread Outlets all across governorates in Egypt as well as its Objective to work with more than 100,000 merchants nationwide through shops, grocery stores, libraries and all outlets which provide financial payment services.
Damen also offers more than 500 financial payment services, many of which are: paying electricity, gas, water, phone and internet bills, game payments, paying institutes and university fees and paying flight reservations. Greatest benefits for EPOS:
1.Speed and accuracy
2.Access to greater Insight
3.Improve Customer Satisfaction
4.Waiting time is maybe one of the most annoying things for your customers. Every business wants satisfied customers for this reason, EPOS systems run to make the buying process faster, and to limit the queue .With an EPOS system taking payment transactions now only take a few seconds. Hence, customer checkout speed has been verified and confirmed to be a key factor for customer satisfaction.