Commercial Data Commercial Data ProcessingProcessing

EFTPOSEFTPOS

EFTPOSEFTPOS

Electronic Funds Transfer at Point Of Electronic Funds Transfer at Point Of Sale.Sale.

Unites EFT and POS systems.Unites EFT and POS systems. Used in most shops to purchase Used in most shops to purchase

goods.goods.

Electronic Funds TransferElectronic Funds Transfer

A way of paying for goods without A way of paying for goods without using cash.using cash.

Funds transferred automatically from Funds transferred automatically from your bank account into the shop’s.your bank account into the shop’s.

Uses a debit card e.g. Uses a debit card e.g.

Switch or Delta.Switch or Delta.

Point of SalePoint of Sale

Goods are paid for at a POS terminal (a Goods are paid for at a POS terminal (a till).till).

POS terminals usually have :POS terminals usually have : an input device e.g. a barcode an input device e.g. a barcode

scanner.scanner. a backing store or a connection to a a backing store or a connection to a

mainframe.mainframe.

EPOSEPOS

each item in a shop has a barcodeeach item in a shop has a barcode prices displayed on shelves not itemsprices displayed on shelves not items barcodes read by scanner at tillbarcodes read by scanner at till product code sent to computerproduct code sent to computer computer returns name and price to till to computer returns name and price to till to

be displayedbe displayed till produces itemised receipttill produces itemised receipt computer updates stock filescomputer updates stock files

EFTPOSEFTPOS

EFT system to pay for the goods:EFT system to pay for the goods: items are scanned at terminal and items are scanned at terminal and

debit card is swiped debit card is swiped terminal checks card against file of terminal checks card against file of

stolen cardsstolen cards computer authorises transaction or computer authorises transaction or

contacts bank if requiredcontacts bank if required

Advantages of EFTPOSAdvantages of EFTPOS

payment guaranteed by systempayment guaranteed by system less paperworkless paperwork quicker than chequesquicker than cheques smaller queuessmaller queues less cash in storeless cash in store

Disadvantages of EFTPOSDisadvantages of EFTPOS

expensive to installexpensive to install harder for customers to keep track of harder for customers to keep track of

their spendingtheir spending card fraud possiblecard fraud possible what if part or all of the what if part or all of the

system fails?system fails?