1. Electronic Monetary Processing Systems

2. 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.

3. 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.

4. 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

5. Activity One
Complete the following worksheet:
Check Answers

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

7. 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?