Electronic fund transfer machine, 1998.
3 3 c m
40cm
actual image size: 32cm x 25cm

Electronic fund transfer machine, 1998.

© Science Museum / Science & Society Picture Library

Description

Electronic fund transfer (EFT) machines allow a financial transaction to take place between parties without the need for any money or a cheque to change hands physically. The purchaser's credit or debit card is pased through the slot on the top of the machine, which reads information off the magnetic strip on the card. An electronic signal then automatically causes the money to be debited from the purchaser's account and credited to that of the vendor, and a receipt recording the transaction is printed for both parties' records. The use of EFTs has dramatically reduced the number of transactions using cash or cheques, leading to speculation that in the future physical money will disappear altogether. Made by Verifone.
 

Image Ref.

10315120
 

buy a print

Select size
 
Select finish
 
How many prints?
 
£20.00
 

buy a framed print

buy a canvas

buy a framed canvas