Consumers Benefit From Pressing 'cheque' Or 'savings' At The Point Of Sale

6 May 2010

Consumers Benefit from Pressing 'Cheque' or 'Savings' at the Point of Sale

"Australian consumers who use EFTPOS are using a system which is faster, safer and more convenient than other payments cards," Bruce Mansfield, Chief Executive Officer of EFTPOS Payments Australia Limited (EPAL), said today.

Mr Mansfield said EFTPOS has a number of advantages for consumers. They include:
* Cardholders can use their cards to purchase goods by selecting 'Cheque' or 'Savings' at the point of sale
* Consumers have the added advantage of being able to withdraw cash at the point of sale
* Consumers are protected with EFTPOS. If there is an unauthorised transaction, they are protected under the EFT Code of Conduct
* EFTPOS transactions are processed in real time and that means consumers can check their bank records immediately to verify transactions
* Shoppers can still use their debit cards at all Woolworth stores, as long as they select the 'Savings' or 'Cheque' option.

Mr Mansfield said: "Australians have for decades enjoyed the benefits of EFTPOS and they continue to embrace it for purchases and cash out at the point of sale. Just by pressing 'Cheque' or 'Savings' they also have the option of taking cash out while shopping. Reserve Bank of Australia data shows that in the 12 months to January 2010 over 240 million cash-out transactions were performed by Australians."

He also reinforced that shoppers can still use their debit cards at Woolworths stores by pressing the 'Cheque' or 'Savings' button.

Further Information:

Gabrielle Notley
+61 2 9232 1033

EFTPOS Payments Australia Limited ABN 37 136 180 366l level 12, 50 Margaret Street, Sydney NSW 2000 Telephone +61 2 9299 2889 Facsimile +61 2 9299 2885

About EFTPOS Payments Australia Limited (EPAL)
EPAL is a joint venture company established on 14 April 2009 by Australia's major retail financial institutions and retailers to manage, promote and develop Australia's PIN debit card system (EFTPOS) on a commercial basis. About 4.7 million transactions are made through this system every day.


SOURCE: EFTPOS