Sunday, 25 September 2016

Electronic Point of Sale (EPOS) Electronic Funds Transfer System (EFTS)


EPOS or EFTS refers to the computer-based systems used to perform financial transactions
electronically.
Advantages
To Retailers
1. Accuracy in billing.
2. Minimum cash handling in case of EFTS.
3. Increased sales in case of EFTS.
4. Security of cash.
To Customers
1. Purchasing power increases.
2. Minimum cash handling.
3. Get itemized bill.
Disadvantages
To Retailers
1. More capital.
2. Skilled labor required.
3. In case of EFTS, retailer has to pay bank charges.
To Customers
1. Irrational buying.
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