EFTPOS

Description
====Process of transaction starts when customer swipes EFTPOS card through terminal and the pin pad encrypts customer's PIN Personal Identification Number) and arrangers a transaction number. Terminal sends information to customer's bank, which includes terminal number, PIN, transaction number, and merchant number.==== ====After customer's bank gets information about transaction, it accepts or refuses request and sends message to the terminal. If bank accepts request, transaction takes place and money is debited from customer's card.====



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EFTPOS system in New Zealand:
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Debit cards
Australian financial apartments granted their clients a plastic card, which can be applied as a debit card or as an ATM card, or as a credit card. The card simply provides the way by which a customer's linked bank or other accounts can be approached using an EFTPOS terminal or ATM. These cards can also be applied some peddling machines and other mechanical payment machines, such as ticket vending machines.


 * Mobile EFTPOS. (n.d.). Retrieved December 12, 2014, from []
 * "What is eftpos?", (n.d), Retrieved December 12, 2014, from []

Resources

 * Mobile EFTPOS. (n.d.). Retrieved December 12, 2014, from http://www.merchantbroking.com.au/mobile-eftpos-terminals.php
 * "What is eftpos?", (n.d), Retrieved December 12, 2014, from http://www.wisegeek.com/what-is-eftpos.htm
 * "EFTPOS 101", (n.d), Retrieved December 12,2014, from http://smartpay.co.nz/EFTPOS+and+Your+Business/EFTPOS+101.html