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Electronic Funds Transfer at Point Of Sale (otherwise known as EFTPOS) is the method used to transfer money from a customer’s credit or debit card account to the organization’s bank account.
This means that customers do not have to carry large amounts of money.
It is better than writing a cheque as there is no maximum limit, as long as there is enough credit or funds available in the customer’s account.
Each person has some data stored about them by a number of organizations.
Many stores use loyalty cards as a means of obtaining detailed information about customers.
Bar codes – the Unique Product Code – is the easiest way of capturing information about a product.
Electronic Point Of Sales (EPOS) terminals provide many benefits to customers and organizations.
Electronic Funds Transfer at Point Of Sale (EFTPOS) allows funds to be transferred from a customer’s credit or debit card to the organization’s bank account.