POS- Used by customers to transfer assets at retail establishments

Q.  Which one of the following allow bank customers to effect transfers of funds from their deposit accounts and other financial transactions at retail establishments?
- Published on 20 Jul 15

a. CBS
b. DBS
c. IBS
d. POS

ANSWER: POS
 
At the Point of Sale (POS), the retailer would calculate the amount owed by the customer and provide options for the customer to make payment.

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