Systems integration in EFTPOS systems

The application of electronics to the mass payment industry-EFTPOS (electronic funds transfer at point of sale)-is a revolution that is well under way. A fragmented approach to security in EFTPOS systems is being undertaken, both within the UK and internationally. Examples of up front strategic planning are very few and have been swamped by the competitive pressures facing individual banks. Although adequate, there must be concern that current systems, particularly as terminal populations increase, may need to be improved to prevent either direct fraud or major exception management costs. The author discusses the current systems and then outlines future possibilities: cardholder verification, card security techniques, transaction authorisation, cryptography, data transfer options, electronic audit and terminal life cycle