Information Technology Tools and Network Basis
Digital Financial Tools and Applications Question & Answer
Question : 1
What are the advantage of (PoS) Point of Sale
- POS eliminates human errors and save money in the long term.
- POS monitors your sales records and alerts you when stock is running low.
- POS keeps accurate record of daily transactions and report about the volume of the stock.
- POS makes it easy for you to look up past transactions.
- POS is faster from authorizing a credit card transaction to printing a customer receipt.
- POS reduces the chances of user errors because the software checks to ensure that the information entered is accurate and correct.
- POS allows you to add promotions and discounts on the products.
Question : 2
What is PoS (Point of Sale)
The abbreviation of POS is “Point of Sale”. POS is a system which refers to any place where a transaction can happen, whether it is, for a product or service. In other words, POS is the place, where your customer makes a payment for products or services at your store. In a store, a POS is where, the checkout happens, orders are processed and bills are paid. It can be in a physical store, where POS terminals and systems are used to process card payments or a virtual sales point such as a computer or mobile electronic device.
POS System A POS System is the overall hardware and software system used for billing in a POS Store.
Note:- Card readers have also become an integral part of a POS system.
Hardware Components of a POS System
POS system typically contains following hardware:-
- A display unit- to show the billing
- A keyboard/touchscreen device- to select products and enter data
- Barcode scanner -to scan billed objects
- A Printer -to print the receipt
- Cash register – for storage of cash obtained during sales
A software interface- to complete the process
Question : 3
Write the advantages and disadvantages of Internet Banking
Advantages of Internet Banking
- The customers get permanent access to his/her bank anytime and anywhere.
- An online account is simple to open and easy to operate.
- Transactions are safe and highly secure.
- It is fast and efficient.
- Immediate funds transfer helps the user in time of urgent need.
- It saves valuable time of the users.
Disadvantages of Internet Banking
- Requirement of Internet connection.
- Security of transactions is a major issue.
- Password security is a also a big issue.
- Your banking information may be spread out on several devices, making it more at risk.
- Inconvenient to make deposits