Computer facilities in retail shops and stores that permit a customer to instantly pay for goods and services electronically by deducting the cost of each purchase directly from his or her deposit account are known as:
A)ATMs.
B)POS terminals.
C)ACHs.
D)In-store branches.
E)ALMs.

Question

Quizplus · Accepted Answer

POS terminals (Point of Sale terminals) are electronic devices that allow customers to make instant payments by deducting the cost of their purchase directly from their deposit account. These terminals are commonly found in retail shops and stores and are widely used for making cashless transactions. ATMs (Automated Teller Machines) allow customers to withdraw cash and perform other banking transactions, ACHs (Automated Clearing Houses) are a type of electronic funds transfer system used for large transactions, in-store branches are physical bank branches located inside retail stores, and ALMs (Asset Liability Management) are used by financial institutions to manage their financial assets and liabilities.

Computer Facilities in Retail Shops and Stores That Permit a Customer