The full form of EDC is Electronic Data Capture. EDC is a phrase frequently used in the banking industry. It describes the procedure of obtaining and keeping track of consumers’ credit or debit card information when doing a transaction. The EDC device scans the card information, approves the sale, and electronically transfers the money from the customer’s account to the merchant’s account. The cards supported are Visa, Master, Rupay, and International cards.
Type of EDC Machines
- Wired EDC Machines
- Wireless EDC Machines
- Mobile EDC Machines
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Benefits of EDC Machines
There are a number of benefits of using EDC machines. Let’s take a look at several benefits of using EDC machines in detail:
- Due to the ability to accept cashless payments, EDC devices are practical for both customers and businesses.
- EDC machine transfers are considerably quicker than those made using other payment methods.
- EDC devices securely process payments, protecting consumer card information from fraud.
- When it comes to recording the transaction data, accuracy rates are high. Errors and disagreements are less likely as a result.
- EDC devices can aid in boosting sales by providing clients with an extra, simple payment option. It is a really practical alternative.
Also Read: What is the full form of CBS?
EDC Transaction Limits
Limitations apply to EDC transactions. It varies depending on the merchant’s kind of business and the particular bank.
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