Which retail payment innovation was first introduced by IBM in 1973 and became the foundation for modern electronic point-of-sale systems?

The retail payment landscape has transformed dramatically over decades, with technological innovations reshaping how consumers complete transactions. From manual cash registers to contactless payments, each advancement has created new opportunities and challenges for retailers. This trivia question explores a pivotal moment in payment system history that fundamentally changed retail operations and consumer behavior worldwide.

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Universal Product Code (UPC) barcode scanning
PIN-based debit card transactions
Electronic signature capture pads
RFID inventory tracking systems