Electronic Monetary Processing Systems

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Presentation transcript:

Electronic Monetary Processing Systems

Learning Intentions Define and expand the following acronyms: POS EPOS EFTPOS Recognise, from a diagram the components of a typical Electronic Funds Transfer Point of Sale. Describe how Electronic Funds Transfer Systems operate.

Shops use computer technology as follows: Point of Sale (POS) – an ordinary checkout till. Electronic Point of Sale (EPOS) – a checkout connected to a computer with a barcode reader. Electronic Funds Transfer Point of Sale (EFTPOS) – a checkout connected to a computer with a barcode reader which can transfer money from a customers account using credit/bank cards.

Product details to EPOS terminal EFTPOS Display Printer Magnetic stripe reader Product number to store computer Cash drawer and keyboard Scales Product details to EPOS terminal Laser scanner EPOS processor Scanning beam

Activity One Complete the following worksheet: Check Answers

Activity Two Electronic Funds Transfer Read the scenario and put the stages of purchasing goods in the correct order.

Conclusion Can anyone expand the acronym EFTPOS? Name three components of an EFTPOS. What does PIN stand for? Before a receipt is printed what must be approved?