Applications Of ICT

Question 1

What is the use of credit or debit cards to complete transactions?

Answer 1

Electronic Funds Transfer (EFT)

Question 2

Where does Electronic Funds Transfer happen?

Answer 2

At an Electronic Funds Transfer Point of Sale (EFTPOS) terminal

Question 3

Explain the process of Electronic Funds Transfer.

Barcode scanner, searched, updated, processes, uses, printed

Answer 3

1. A barcode scanner reads the barcode on the product
2. The stock database is searched and the matching price is returned
3. The stock database is updated
4. The computer processes the bill
5. The customer uses their card at the EFTPOS terminal to make the purchase (see chip and PIN process)
6. The receipt is printed

Question 4

What are the outputs of the EFT process?

Answer 4

Printing of the receipt and beeping of the speakers when the barcode is scanned

Question 5

List three advantages of EFT to the customer.

Answer 5

1. No need to carry cash
2. Easy transferral of funds
3. No chance of being overcharged

Question 6

List three advantages of EFT to the vendor.

Answer 6

1. Reduces paper work
2. Money is transferred immediately
3. No risk of cash theft

Question 7

List two disadvantages of EFT to the customer.

Answer 7

1. Some people do not have bank accounts

2. Risk of card fraud

Question 8

List three disadvantages of EFT to the vendor.

Answer 8

1. Charged a fee by card companies
2. High cost of initial setup
3. System failures cause major issues

Question 9

What two technologies does EFTPOS use?

Answer 9

Chip and PIN technology and barcode technology

Question 10

Chip and PIN:
The credit or debit card is placed into the chip and PIN terminal, which accesses the ….. and this prompts the user to enter their …..

If the PIN is verified, the transaction is completed.

Answer 10

contents of the chip, four digit PIN

Question 11

List three details that a barcode contains about a product.

Answer 11

1. Country of origin
2. Product code
3. Manufacturer code

Question 12

Barcodes have a …. to ensure their authenticity.

Answer 12

check digit

Question 13

What does ATM stand for?

Answer 13

Automatic Teller Machine

Question 14

List three facilities that an ATM offers.

Answer 14

1. Withdrawing of cash
2. Printing of receipts
3. Lodging of bank cheques

Question 15

ATMs can be accessed…

Answer 15

24/7

Question 16

What technology do ATM machines use?

Answer 16

Chip and PIN technology

Question 17

Where can ATMs be found?

Answer 17

At bank branches and in shopping centres