EFTPOS -->
Electronic Funds Transfer Point of Sale
computing dictionary

<business> A method of electronic payment which allows money to be transferred from the account of the shopper to the merchant in close-to real-time. Generally the shopper will give the merchant a credit or debit card, which will be swiped to obtain the account information. The shopper will then be required to either sign a receipt or enter a PIN via a keypad to authorise the transaction.

Acronym: EFTPOS

(01 Aug 2003)