EFTPOS spreads the horizons for local and international businesses

Even though the e-payment becomes is an important part of business world, some people still don't want to accept the thought of money as data, able to be exchanged between payer and payee as just as a bunch bits and bytes. For those people the EFTPOS is merely known technology on a distant horizon. However, large businesses, banks, merchants and retailers prefer electronic transactions. Younger generation also doesn't feel discomforted about e-payment. 

According to Statistics NZ, the value of the total Electronic Card Transaction (ECT) series increased 0.8 percent in September 2008 compared with August 2008. And electronic transactions caused $ 4.5 billion in total for September. And this statistics is not surprising. Electronic transactions are guaranteed (if payment processing between the payee and the payer's bank is online and in "real time"). There's no need to wait for the cheque clearance process. Among other benefits for e-payment users are less cash on premises, reduced risk of robbery, less administration time including fewer trips to the bank, etc. 

But what really moves e-payment systems forward is customer demand. And according to Peter Muggleston, group manager ASB online for the ASB Bank, customers want to pay electronically. And from a small business perspective it's easier to receive money electronically. 

Moreover, the risks associated with EFTPOS payments are so small that they are even considered to be negligible. And this also applies to mobile (wireless) EFTPOS transactions.