POINT OF SALE TERMINAL

What is Point of sale terminal? It consists of two components-(a) A computer terminal that is linked on line to computerize customer information files in a bank and (b) a plastic magnetically encoded transaction card that identifies the customer to the computer. During a transaction, the customer’s account is debited and the retailers account isContinue reading “POINT OF SALE TERMINAL”

SHARED PAYMENT NETWORK SYSTEM

What is Shared payment network system (SPNS)? SPNS is a large network of ATMs spread in the city of Mumbai, Vashi, and Thane. It has been established at the behest of Indian Banks Association by India Switch Company Pvt. Ltd. The participating banks issue universal cards to the customers for transacting on this network. TheContinue reading “SHARED PAYMENT NETWORK SYSTEM”

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