Eftpos Terminals

Author: Jacques ter Huurne

Definition

Eftpos is a form of debit cards. Eftpos terminals are there to access the data from the the Eftpos card and connect you to your bank account, so that you can pay for pretty much anything.

Description

Eftpos terminals will be at every single counter of all of the supermarkets that are of the ASI. The Eftpos terminals lets the customers transfer their money to the supermarket to pay for the wanted products. By punching in their pin-code after having swiped their card against one of the terminals. This transaction then is electronically stored in the supermarkets database, no actual bank account information from the customers will be able to be viewed, since it is private for the customer and the bank only. The Eftpos system is a reliable form of payment that is almost as private as just giving cash. It is not only easier for the customer, it is also easier for the supermarket, since they don’t have to count and give change from the cash, which can take some time, but with the Eftpos the exact amount of money is paid, quickly and easy.

Explanation and application

Eftpos terminals, like stated previously are used by the customer and buy the supermarket and many other shops to create a safe and private bank access for the customer to transfer the money from the customers account to the supermarkets account. The way a eftpos terminal does this is actually quite simple, the Eftpos card from the customer has a code and that code is unique to that card only, when that card is then swiped on the Eftpos terminal then the terminal uses that unique code to access the customers bank information creating a secure and private link, with that the customer then types in what bank account he wants to use (savings, cheque, etc.), then the customer has to simply punch in the pin code to validate and then the terminal transfers that money to the supermarkets bank account.

References and resources


"Eftpos Terminals." Eftpos. N.p., n.d. Web. 15 Aug. 2014.
<http://eftpos.co.nz/eftpos-terminals>



"EFTPOS." Wikipedia. Wikimedia Foundation, Web. 15 Aug. 2014.
<http://en.wikipedia.org/wiki/EFTPOS>