BANKING AFFAIRS

Detailed explanation-1: -Electronic data capture (EDC) is the electronic acquisition of clinical study data using data collection systems, such as Web-based applications, interactive voice response systems and clinical laboratory interfaces.

Detailed explanation-2: -What is Point of Sale (PoS) / Electronic Data Capture (EDC) Machine? PoS or Swipe Machine as it is popularly known / EDC (Electronic Data Capture) Device is an instrument provided to a Merchant Establishment (ME) to carry out the sale of goods or services to customers through a cashless transaction.

Detailed explanation-3: -EDC Terminal means the electronic data capture terminal at the point of sale which is linked by electronic interface to the Bank’s computer network and which has been supplied by the Bank to the Merchant or has been approved by the Bank; It is also referred to as POS Terminal.

Detailed explanation-4: -Many consumers prefer to pay using a card, so merchants need the ability to accept this popular method of payment. A customer is able to pay for a product or service without cash because of the Electronic Draft Capture (EDC), making it a critical technology for sellers.