Most Australian Shops Accept Payments Via EFTPOS but Not by Cheque.What

question 19

Essay

Most Australian shops accept payments via EFTPOS but not by cheque.What advantages does EFTPOS (and other electronic instruments)have over cheques for the shopkeeper? What are the advantages for the customer?

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Definitions:

Instrument

An instrument is a tool or device, especially one used for precise work or scientific measurement.

Alternative

Another option or choice available to parties in a situation, often considered when the primary option is not feasible or desirable.

Joint Payee

Involves two or more parties being named on a financial instrument or payment, requiring endorsement or agreement from all named before processing.

Suspended

Temporarily halted or stopped, often with the possibility of being resumed in the future.