EFTPOS


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EFTPOS

Acronynm for Electronic Funds Transfer at Point of Sale. Payment is transferred usually from a checking account at the point of sale.

EFTPOS (electronic funds transfer at the point of sale)

a system for paying for the purchase of goods and services involving the use of at CREDIT CARD (e.g. Visa) or bank debit card (e.g. Switch). The customer's card is ‘swiped’ across a machine at the till with details of the purchase being transmitted down an electronically connected line to the EFTPOS processing centre for authorization. The advantage of EFTPOS is that like a cheque it removes the need to pay in ready cash, but more particularly computerization of transactions cuts down on the amount of physical paperwork undertaken and related costs. See EPOS.

EFTPOS

(electronic funds transfer at the point of sale) a system for paying for the purchase of goods and services involving the use of a credit card (e.g. Visa) or bank debit card (e.g. Switch). The customer's card is ‘swiped’ across a machine at the till, with details of the purchases being transmitted down an electronically connected line to the EFTPOS processing centre for authorization. The advantage of EFTPOS is that, like a cheque, it removes the need to pay in ready cash, but more particularly computerization of transactions cuts down on the amount of physical paperwork undertaken and related costs. See EPOS.
References in periodicals archive ?
Pat Curran, Executive Chairman at Bell ID, said: "Bell ID is excited to partner with eftpos and to contribute to the mobile payments advancement in Australia.
Market Analytics III-22 Table 22: Japanese Recent Past, Current & Future Analysis for EFTPOS Terminals Market Analyzed with Annual Sales Figures in Thousands of Units for Years 2013 through 2020 (includes corresponding Graph/Chart) III-22 Table 23: Japanese Historic Review for EFTPOS Terminals Market Analyzed with Annual Sales Figures in Thousands of Units for Years 2006 through 2012 (includes corresponding Graph/Chart) III-23
To support Australian banks in meeting the requirements for the eftpos migration to EMV and contactless payment, G&D Australasia can offer a suite of eftpos chip enabled products based on its proven, highly secure Java card and antenna technology.
Companies Mentioned Interac ACCEL/Exchange AFFN Alaska Option ATH Credit Union 24 NYCE STAR Jeanie SHAZAM Dankort Carte Bancaire Girocard 123 Network Visa MasterCard American Express Discover Redcompra Cabal Credencial Carta Franca Tarjeta Naranja URPS NCC/Union Card UnionPay RuPay JCB J-Debit NETS MEPS BCA Multicaixa Shetab Pulse Diners Club eftpos
The bank has a found a temporary solution for its customers but has not been able to solve the problem that has caused terminals to stamp January 2016 instead of 2010 and reject EFTPOS users' cards for being out of date.
Scheme debit cards have outperformed EFTPOS/ATM cards with latest RBA data showing that the number of purchase only transactions made with scheme debit cards between April 2009 and April 2010 increased by 22%, compared to 16% for EFTPOS.
Bayswater North small business Claws 'N' Paws Pet Supplies has been recognised for its retail excellence, taking home the Victorian Government sponsored Victorian Retailer of the Year award at the 2014 eftpos ARA Australian Retail Awards ceremony in Melbourne.
Besides a global introduction about the EFTPOS market, it includes, for each POS terminal vendor, a thorough company profile, and a detailed product offer presentation.
ING Direct declared that it has issued chip cards to be used through the new Eftpos payments hub.
While card schemes provide cashless payments via EFTPOS, new non-financial establishments are aggressively promoting mobile payment and Point of Sales (POS) machines featuring mobile wallet integrations.
While many are fearful the change will disrupt small business, First Data s new payments solution for the sector which includes new mobile EFTPOS terminals, an integrated Pay@Table solution and other customisable applications will increase customer convenience, service and turn over thus helping SMEs drive revenue growth.
Security Concerns Drive EFTPOS Terminals Adoption Worldwide II-3