I hate to say this but this still suffers from all the issues that previous suggestions for point of sale stuff has, in that it takes a great deal of time comparatively to confirm the transaction is actually valid. People aren't going to wait around for a quarter of an hour after buying a stick of gum to wait for a transaction to verify.
Some thing like this would not take up much room.
http://www.hengyu-tech.com.cn/db_picture/pro1/201010310840081320.jpg