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 ?
Some of the competitors identified in the Global (United States, European Union and China) Electronic Funds Transfer Point of Sale (EFTPOS) Terminals Market study include Atos Worldline, Equinox Payments LLC, First Data Corporation, Fujitsu Limited, VeriFone (Formerly Hypercom), Ingenico, Dejavoo, Exadigm, XAC Automation Corp., Panasonic, PAX, Smartpay, NCR, Olivetti & VeriFone Systems.
pri analyze uvedenych vstupov bol zaznamenany rast poctu ATM a EFTPOS terminalov v priemere o 76,54 % a rast hodnoty celkovych aktiv pripadajuci na uverovu instituciu v priemere o 130,57 %.
These banks entered into alliances to gain access to the ATM and EFTPOS network.
2012, 'Eftpos's Innovation Complication', Technology Spectator, http://technologyspectator.com.au/industry/financial-services/eftpos- innovationcomplication?&utm_source=exact&utm_ medium=email&utm_content=35401&utm_campaign=kgb&modapt=commentary.
Coordination within EFTPOS was primarily based on dual-function terminals which could read both magnetic strips and chip cards.
Ingenico offers a complete range of electronic payment systems, including fixed, portable and mobile payment terminals, secure smart card readers and related EFTPOS peripherals.
EFTPOS, The Electronic Fund Transfer Point of Sale, system charts your movements and gives a profile of your lifestyle.
ATMs, EFTPOS, the Internet and telephones will continue to expand as delivery channels and the options available will likely increase.
Leading banks are offering high-tech products and services, such as internet-telephone banking, automated telling machines (ATMS) and electronic funds transfer at point of sale (EFTPOS) operations.
Many service industries are innovating via a process of adoption and adaption (Free et al., 1993), adopting IT&T and adapting it to produce new products and services from Bankcard and EFTPOS to on-line services.
A typical over-the-counter check transaction, fully costed, costs a bank around A$3; an equivalent ATM transaction costs $0.50, an EFTPOS (electronic funds transfer at point of sale) transaction $0.30, and a direct debit or credit less than $0.10.
Retailers consider that they do a lot of work on behalf of the debit card issuers and acquirers; promoting the acceptance of the card, in some cases partially processing the transactions through their EFTPoS terminals and helping reduce fraud through the acceptance of lower floor limits, above which debit card transactions must be checked "online" against the card holder's account.