SERVICE OF WITHDRAWING OVER COUNTER (SWOT)

On 2nd March 2016 I went to the International Business Invention, Innovation and Design Competition organized by Core Management Science and Faculty of Business Management at Dewan Sri Budiman, Universiti teknologi MARA, Shah Alam. I was attracted by this innovation program called Service of Withdrawing Over Counter (SWOT) by Faculty of Business Management, Universiti Teknologi MARA, Puncak Alam.

The existing of numbers of Automatic Teller Machine (ATM) really helps the consumers to withdraw their money without going over the bank counters. However, the time spent with heavy traffic and long queue might bring hassle to the consumer to withdraw from ATM. This system allows consumers to get money from their account using debit or ATM card at any cashier counters at hypermarkets in Malaysia like Giant, 7-Eleven, Kedai Rakyat 1 Malaysia, Pos Malaysia, Mydin, Aeon, and also fuel stations like Petronas and Shell. This service is using the technology of Electronic Fun Transfer at Point Of Sale (EFTPOS). This innovation will not only convenient to the consumers, but also to reduce excessive money by retailer. This may also reduce the robbery rate. This system will operate just like ATM where the EFTPOS system will create record of payment and print receipts which can help to avoid any disputes.