Electronic funds transfer at point of sale (EFTPOS) is an electronic payment system involving electronic funds transfers based on the use of payment cards, such as debit or credit cards, at payment terminals located at points of sale. EFTPOS technology originated in the United States in 1981 and was adopted by other countries. Online electronic cash payment systems use electronic cash, which is a digital form of value exchange and value storage, to complete transactions. Electronic cash requires intermediaries to convert and has limited convertibility. Advantages of this payment system are convenience, security and privacy. Smart card based electronic payment systems involve the use of smart cards. These smart cards are small plastic cards with a memory chip, which can store encrypted information that is used for payment.
For citing this article’ use:
Khan, S. A. (2020). Role of Information and Communication Technologies ICTs on consumer purchase for processed food in India.