Do you know that it is possible to purchase products without carrying cash? This is made possible by EFTPOS machine and it stands for Electronic Funds Transfer at Point Of Sale. You just need to secure EFTPOS card in order to make the transaction. It is as good as cash and all you need to do every time you make a purchase is to present the card and the cashier will insert it into the machine. Once your purchase is confirmed with your security PIN or signature, the machine will contact the bank of the store regarding the transaction. Your bank will also receive the same message. The best thing about this kind of transaction is that it only takes a few seconds for you to complete your purchase. In case you do not have enough cash, you can also ask the store for additional cash and this saves you from taking a trip to the bank.
Other Information About EFTPOS Machine
This machine works like automated teller machine, but it is considered more convenient as you do not have to withdraw cash. All you need to do is to insert or swipe your EFTPOS card into the machine. You need to select the type of account you have. It can be cheque, credit or savings account. You will be prompted to enter your PIN and you need to press enter to confirm. The transaction will take place and the approve sign will appear if there are no problems with the transaction. You will be given a receipt as proof of the transaction. You also have the option to use credit and this can be found in the account selection stage. You need to sign or enter your PIN to confirm your choice.
A receipt needs to be printed out so you can sign it. It is necessary that you sign the receipt in front of the store representative and it will be compared to the signature on the card. The transaction is considered complete once the machine approves it. Make sure you remember essential information such as your PIN because you will need it every time you make a purchase using your EFTPOS card. Usually, purchases using EFTPOS machine runs smoothly and you will be informed in case there is a problem with the transaction. It can either be a problem with the bank or the machine itself. It is also important that you take your card with you especially if you intend to use it on all of your purchases.