POV is an abbreviation for "point of view". In addition to its use as a device in literature (as described in a previous definition on this site) it has also become commonly used in pornography. With the rise of handheld video cameras and the spread of amateur porn on the internet, a whole sub-genre of pov porn has developed.
In a pov porn the man receiving sexual ratification holds the camera himself and aims it down at his genitals and the partner/s who is/are pleasuring him. This is in contrast to having a separate camera crew filming the action. The effect is to give the viewer the sense that he is experiencing the sexual acts he is watching as opposed to simply watching others as a voyeur.