EFTPOS is the acronym for Electronic Funds Transfer
(at) Point of Service.
Re: Electronic Fund Transfer at Point Of Service
First I would like to thank you for the News letter, but the main point of this mail is to supply you with eftpos transaction figures for New Zealand.
New Zealanders on average make 7 eftpos transactions per capita per month. 80% of all eftpos transactions are made through the (ETSC) transfer system. Eftpos transactions make up 20% of all non cash payments. New Zealand leads the world in eftpos transactions with Australia and Canada coming second.
These are the official figures as presented in the North & South magazine.
For the last year or so the banks have organised their cashiers so there is always a long line in which you have to wait to be served, (every bank is the same). They all have automated tellers in their entrance ways and it is a lot quicker to use these, I believe the waiting lines were created to encourage the use of auto Telarah Every where you go know there is an auto teller.
There are hardly any shops in NZ which don't have eftpos service, Supermarkets and Petrol stations were the first a few years ago and now even the small street corner shops have to buy or rent the eftpos terminals (which arn't cheap, $3000+) to stay in business Even delivery pizza has eftpos through their cell phones. New Zealand is at a stage where if cash was removed tomorrow life would carry on as normal.
To top the whole lot off a new diver licence has just been introduced (photo) a few years ago we all had to go and get, as they called it a lifetime drivers licence. Know they say that was not good enough and we have to pay for another one, they have set up offices which have long counters with cameras mounted every 2 metres. You go in, stand infront of the white board and have your photo taken. All your other details are added to the data base, or checked with the details which are already there and out pops your new plastic drivers licence.
If you are interested in any details of NZ new licences I will enquire for you and send you the answers.