Electronic Funds Transfer At Point Of Sale Research Articles

Electronic Banking and Bank Performance: Botswana Context

Electronic banking has redefined banking operations in many countries around the world. This paper investigates the relationship between e-banking and commercial bank performance in Botswana. Specifically, this was a descriptive study which seeks to find out if specific electronic banking indicators such as use of Automated Teller Machines (ATMs), Cheque Clearance (CHQ), Electronic Funds Transfer (EFT), and Card & Electronic Funds Transfer at Point of sale (EFTPOS) have an effect on financial bank performance. A 10 year aggregate quarterly commercial bank data as provided by Bank of Botswana Financial Statistics Reports was used in this study. A multiple regression procedure was used to determine the significance of the relationship between the independent variables (electronic banking indicators) and the profitability measures of return on assets (ROA) and return on equity (ROE) as the dependent variables. The findings were that only CHQ was statistically significant at 0.05% level under both ROA and ROE models with p-values of 0.0002 and 0.0000 respectively. However, the predictive power of ROE was found to be higher than ROA using adjusted r-square and d-statistic. The other three remaining variables (EFT, ATMs and EFTPOS) were statistically insignificant (p >0.05). The results show that at an aggregate level commercial banks in Botswana widely use the traditional banking methods such as use of cheques. The results are expected to inform bank managers on the need to discover the optimal supply of electronic banking services such as EFT clearing, EFTPOS and ATM payment systems in order to improve bank performance. The study will further inform policy makers on the need to improve on Information and Communication Technology (ICT) in order to cater for optimal use of electronic banking service in Botswana.

Two-tiered Clustering Classification Experiments for Market Segmentation of EFTPOS Retailers

This paper proposes the application of clustering and classification techniques on finding groupings of retailers who use the Electronic Funds Transfer at Point Of Sale (EFTPOS) facilities of a major bank in Australia. The RFM (Recency, Frequency, Monetary) analysis on each retailer is used to reduce the large data set of customer purchases through the EFTPOS network for the purpose of the retailer clustering. We then incorporate attributes of the EFTPOS transaction data in addition to the derived RFM attributes to build a decision tree to facilitate the extraction of business rules that explain the characteristics of the retailer clusters.

Natężenia transakcji bezgotówkowych w Polsce: determinanty i prognozy

The paper examines Poland’s card payment market. It analyzes the determinants of card transactions and makes projections for the development of this market from 2015 to 2017. Studies point to a strong relationship between the development of cashless transactions and the rate of economic growth recorded by countries, the authors say. The article seeks to identify the key factors driving the card payment market, such as the number and value of card transactions, the number of cards held by individuals, and the number of electronic-funds-transfer-at-point-of-sale (EFTPOS) terminals. The authors build models based on panel data from European Union countries from 2000-2012. They use Blundell and Bond’s system-GMM estimator to treat the results in terms of causality rather than coexistence of the obtained effects. The role of trust in society and GDP growth are found to be important determinants of the development of the cashless transactions market. The authors’ projections suggest that Poland’s cashless transactions market will develop rapidly in the years ahead even if economic growth is slower than projected.

Technological Innovations and Banking in Ghana: An Evaluation of Customers' Perceptions

In Sub-Saharan Africa, developments in information and communication technology are radically changing the way business is done. These developments in technology have resulted in new delivery channels for banking products and services such as Automated Teller Machines (ATMs), Telephone Banking, PC-Banking, and Electronic Funds Transfer at Point of Sale (EFTPoS). This study evaluates the perceptions of banking customers regarding the effect of technological innovations on banking services in Ghana. The study focused on customers with banks that have at least one form of technological innovation. The results of the study generally indicate that, technological innovation or electronic delivery channels have contributed positively to the provision of banking services and the growth of the Ghanaian banking industry. Ife Psychologia Vol.13(1) 2005: 170-187

Patterns of purchase loyalty for retail payment methods

While retail payment instruments generate more revenue than many fast moving consumer goods (FMCG) categories, surprisingly little is publicly known about market structure and purchase loyalty. This paper reports a study of shoppers’ use of payment methods in three New Zealand retail categories (n = 310). The study identified shoppers’ “main” and “other” payment methods, and examined relative penetration, patterns of purchase loyalty, and repertoire size. The results showed that well‐known patterns of FMCG purchase loyalty also applied to retail payment methods. These patterns were stable across categories, implying retail payment methods are a mass market rather than a segmented market. The results also showed that, despite New Zealand being one of the most advanced cashless societies in the world, the market for electronic funds transfer at point of sale (EFTPoS) is far from saturated. This knowledge should prove useful for practitioners seeking to understand patterns of competition in retail payment methods, and for academics hoping to apply models of consumer behaviour to financial services.

Retailers’ experiences with and attitudes toward the Saudi Arabian EFTPoS system

Saudi retailers’ experiences with the system for electronic funds transfer at point of sale (EFTPoS) in Saudi Arabia and the effects of those experiences on their attitudes toward the system were examined in a survey conducted in the Eastern and Western provinces of the Kingdom of Saudi Arabia. Results from a sample of 187 retailers show that adopting retailers have experienced the most benefit in the area of increased customer convenience, while the main problems have been delays at checkout counters and added responsibility for counter staff. Large retailers and retailers which are heavy users of the system report the most benefits while small retailers and light users of the system report the most problems. The results also show that adopting retailers have an overall positive attitude toward the system, and that retailers which have experienced the most benefit (or the least problems) have more positive attitudes toward the system than those which have experienced the least benefit (or the most problems). Implications of the results are outlined and discussed.

Demographic differences in usage and attitudes toward the Saudi Arabian EFTPoS system

After only five years in operation, the Electronic Funds Transfer at Point of Sale (EFTPoS) system of Saudi Arabia has made a significant impact on the Kingdom’s commercial environment. Recent EFTPoS statistics indicate growing consumer acceptance of the system. To help decision makers identify areas for further improvements in usage, the study reported in this article examines how EFTPoS usage and overall attitudes toward the system vary across different consumer demographic groups. Results of the study indicate that in general, consumers have favourable attitudes toward using the EFTPoS system. However, they are concerned about the possibilities of losing control over expenditures when purchases can be charged to electronic cards. Significant differences in EFTPoS usage and attitudes are found between men and women, consumers of different national backgrounds, and monthly income categories. Age and educational level do not have significant effects on attitudes. Practical and theoretical implications of the findings are outlined and discussed.

Driving safely on the information superhighway

Information technology (IT) has become part and parcel of the business world today. In fact, it will continue to become an even larger factor in the future. Organizations will interlink their IT systems as a result of linking to the Internet, electronic data interchange (EDI), electronic funds transfer at point of sale (EFTPoS), etc. All of this might hold an information security risk for an organization. Organizations attempt to secure their own IT environment, but they have little control over the IT systems they link with. If those external IT environments are insecure, they might pose a threat to the IT systems in the host environment. Organizations would like to obtain some proof that the IT systems of their business partners are secure before they link with their individual systems. Such a proof can only be given through some security evaluation and certification process. Shows and explains the need for such a process.

Electronic funds transfer at point of sale: a consumer viewpoint*

The first section examines the advantages and disadvantages of electronic funds transfer at point of sale (EFTPOS) as a payment method for consumers. The next section looks at the legal issues and especially at consumer problems arising from the use of wellestablished related technology, automated teller machines (ATMs). The third part sets out the European Commission's strategy for EFTPOS. Finally, the last section summarizes the consumer issues involved and suggests that an international legal framework is needed to deal with them.