Some 20 years back, we all relay on the banks for all money transaction. We stand on queue for long long time for withdrawing some negligible amount. So after the computer revolution in the banking sector, so much things have changed and like queue inside the bank are now become queue outside the ATM. And money transaction also become very easy using net-banking, mobile banking and POS.
In these, POS(Point Of Sale) is very much useful since straightly we are purchasing the product without any Hard-money transaction. And as we know POS will be available in shop and that is straightly linked with the shop's current account.
These POS will communicate with bank using the phone-line. One important thing we need to notice is, the evolution of the mobile industry for last 10 years.So why POS still sitting inside the shops and make themselves restricted to shop only.
As per the technology it is not too much difficult to implement wireless-technology in the POS. Once this will be implemented, we can reduce lot of hard-money transactions and circulation of black-money also reduced.
We are not too much away for the day, where we can carry single Debit-Card for purchasing a vegetable and have a drink in tea shop.
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