Computers in Retail: A Student's Guide

What is a Point of Sale (POS) system?

• A Point of Sale (POS) system is a method for online marketing.

• A Point of Sale (POS) system is a system used to manage sales transactions in a business.

• A Point of Sale (POS) system is a software for graphic design.

• A Point of Sale (POS) system is a type of payment card.

How does POS software benefit retail businesses?

• POS software benefits retail businesses by improving transaction efficiency, inventory management, customer service, and sales analytics.

• POS software reduces the variety of products offered.

• POS software eliminates the need for customer service.

• POS software increases employee turnover rates.

What does POSEFT stand for in retail technology?

• Point of Sale Electronic Fund Transfer

• Point of Sale Electronic Financial Transaction

• Point of Sale Electronic Funds Transfer

• Point of Sale Enhanced Funds Transfer

Explain the role of contactless payments in modern retail.

• Contactless payments streamline transactions, improve customer experience, and support hygiene in modern retail.

• Contactless payments are primarily for loyalty programs.

• Contactless payments require physical contact with the terminal.

• Contactless payments are only used for online shopping.

What technology enables contactless payments?

• Magnetic Stripe Technology

• Near Field Communication (NFC)

• QR Code Scanning

• Bluetooth Connectivity

How do NFC (Near Field Communication) payments work?

• NFC payments require a physical connection between devices.

• NFC payments allow devices to communicate wirelessly for secure transactions by bringing them close together.

• NFC payments are only used for online transactions.

• NFC payments involve scanning a QR code for verification.

What are the advantages of using NFC in retail transactions?

• Advantages of using NFC in retail transactions include speed, convenience, enhanced security, reduced physical contact, and seamless integration with loyalty programs.

• Increased transaction fees

• Longer checkout times

• Limited payment methods

Describe the communication process between supermarket and bank computers.

• Supermarket and bank computers communicate via email for transaction updates.

• The communication process involves the supermarket's POS system sending a payment authorization request to the bank, which verifies and responds with an approval or denial.

• The supermarket's inventory system sends daily sales reports to the bank.

• Bank computers automatically adjust supermarket prices based on sales data.

What security measures are in place for online transactions?

• Cash on delivery

• Email confirmation only

• No verification required

• Encryption, secure payment gateways, two-factor authentication, PCI DSS compliance.

How has internet shopping changed consumer behavior?

• Internet shopping has decreased the variety of products available.

• Internet shopping has changed consumer behavior by increasing convenience, encouraging price comparison, and promoting impulse buying.

• Internet shopping has made shopping less accessible for consumers.

• Internet shopping has eliminated the need for customer service.