The connector on the power supply is called a banana post.
There are many ways to connect to the post.
1. You can insert a wire (single or multiple strand) in the hole on the side.
2. You can wrap the wire around the post and tighten.
3. You can use a spade connector.
4. You can insert a banana plug. There are many styles of plugs in different colours.
Simple Johnson/Cinch banana plug
Banana patch cables allow you to connect an alligator clip to the end of the plug. You can also extend the cable or add multiple cables by plugging in another cable on the back of the plug or in the side hole of the plug.
Those particular connectors were marketed as "5-Way binding posts"because they will accept a banana plug, a spade lug, a bare wire, or a pin plug thru the wire hole, or a bare wire poked thru the hole. So they truthfully are five-way binding posts.