What is EFTPOS?

EFTPOS, Electronic fund transfer for sales refers to technology that allows retailer directly to debit the customer's bank account using a debit card. The debit card, generally the same as the ATM card, ran over the reader's device as well as the credit card. The customer must enter their PIN, generally required as soon as the amount of sales has been entered into the EFTPOS device. The seller is paid "immediately" without having to accept the real cash. Although cash is certainly advantageous compared to credit cards with surcharges or personal checks that may reflect, there are many security commitments that surround handling with a large amount of cash. Cash must be manually counted by the cashier on the POS, counted again when the register is exported and finally collected by an armed service or personally stored. With EFTPOS, the money is connected directly to the ER retail account as soon as the transaction clashes and bypasses these obligations and at the same time it saves manual resources.

The customer will also come forward using EFTPOS because of their considerable comfort. Shoppers do not have to have cash, credit cards, or checkbook at hand to make a purchase. This is particularly suitable for unplanned or impulse purchase. The customer can also get money from the transaction - additional comfort. In addition, if the item needs to be returned to the store, EFTPOS sales can allow the patron of an immediate refund, regardless of business policy. Contrast it with personal checks that require the customer to wait two weeks or more before offering a refund. Finally, Eftpos saves consumer money by saving personal checks and ATM fees for withdrawing cash.

Eftpos is very popular in the United States, Great Britain, Germany, Australia, New Zealand and Canada. Some manufacturers of EFTPOS include: eftpos , ingenico , axalto , sage , Thales , Trinty , and and .