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Electronic monetary processing

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Mind Map on Electronic monetary processing, created by madair505 on 24/09/2013.
madair505
Mind Map by madair505, updated more than 1 year ago
madair505
Created by madair505 about 12 years ago
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Resource summary

Electronic monetary processing
  1. EFT & EFTPOS
    1. EFT - Electronic Funds Transfer
      1. No cash changes hand
      2. EFTPOS - Electronic Funds Transfer point of sale
        1. it is a computer including a barcode scanner and a chip and PIN terminal
        2. Money is transferred electronically
        3. Barcode Technology
          1. Consists of digits encoded as a series of light and dark vertical bars of varying width
            1. Can be read by a laser scanner that uses a laser beam to read and enter the code details automatically
              1. Information on barcode
                1. a product code
                  1. manufacturer code
                    1. country of origin code
                      1. check digit
                      2. when barcode is scanned at EFTPOS
                        1. 1. the barcode scanner reads the barcode
                          1. 2. barcode is sent to the computer
                            1. 3. computer uses the barcode to search for stock file
                              1. 4. product price and product description are sent back
                                1. 5. the branch computer updates the stock level to that one has been sold
                                  1. 6. product price and description are displayed
                                    1. 7. scanned barcode cannot be matched with any item in the stock file, an error message is displayed
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