MUMBAI, India, Aug. 24 -- Intellectual Property India has published a patent application (202621080917 A) filed by Symbiosis International Deemed University on June 30, 2026, for An Iot-Enabled Smart Point-Of-Sale System With Integrated Real-Time Analytics And Payment Reconciliation.
Inventors include Dr. N. A. Natraj; and Mr. Prashant Sabnis.
The application for the patent was published on August 21, 2026, under issue no. 34/2026.
Abstract: ABSTRACT AN IoT-ENABLED SMART POINT-OF-SALE SYSTEM WITH INTEGRATED REAL-TIME ANALYTICS AND PAYMENT RECONCILIATION The present Invention relates to an IoT-enabled smart point-of-sale system (100) integrating digital payment processing, item-level inventory tracking, real-time sales analytics, and end-of-day payment reconciliation for SME retailers. The system comprises a smart POS terminal (110) with a barcode scanner module (120) that captures item-level transaction data and simultaneously feeds an inventory tracking module (140), a real-time analytics engine (150), and a reconciliation module (160). The inventory tracking module (140) decrements stock counts and triggers configurable low-stock alerts. The analytics engine (150) computes top-seller rankings, revenue trends, and payment method distribution. The reconciliation module (160) matches POS records against payment gateway settlements and flags discrepancies. A cloud retail management platform (170) with mobile application (180) access enables remote monitoring. The system is characterized by a unified data flow from barcode scanning through reconciliation without manual data transfer. [
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