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 ?
Not all goods and services are sold over the shop counter; more and more businesses are out and about - and customers still expect Eftpos access.
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.
The uncertainty surrounding network upgrades also serves as a good reason for businesses to upgrade their EFTPOS terminals to the kind of technology that electronically stores transactions until the network comes back on line," says Unwin.
Director of independent EFTPOS supplier Viaduct, Mark Unwin, says the technology carries benefits for both the business and the purchaser.
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.
It might start as a quiet behaviour, like buying a packet of biscuits for yourself, using the elderly person's eftpos card.
The new standards will apply to six card systems -- EFTPOS, Debit MasterCard, MasterCard Credit, Visa Debit, Visa Credit and American Express cards.
Knights' Osteopathy uses ANZ's FastPay smartphone payment app, which allows David to take EFTPOS and credit card payments through his phone.
He also advocated for the inclusion of text to speech technology on EFTPOS machines in Australia and was successful.
Furthermore, 820,000 Eftpos terminals - accounting for 94.
Najvacsi, mozno povedat az extremne vysoky rast hodnoty platieb realizovanych cez ATM a EFTPOS terminaly pripadajuci na jedneho obyvatela mozno sledovat v Bulharsku, Litve, Rumunsku a na Slovensku.