EFTPOS

EFTPOS
Acronym for Electronic Funds Transfer at Point of Sale . Payment is transferred usually from a checking account at the point of sale. Bloomberg Financial Dictionary

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EFTPOS EFTPOS [ˈeftpɒs ǁ -pɑːs] noun [uncountable]
BANKING Electronic Funds Transfer at Point of Sale; a system in Britain for paying for goods without using cash or cheques. The buyer's debit card or credit card is put into a special machine connected to a central computer that automatically takes money out of their account and puts it into the seller's account

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EFTPOS UK US /ˈeftpɒz/ noun [U]
► BANKING, COMMERCE ABBREVIATION for electronic funds transfer at point of sale: a system of paying for goods or services in shops using a bank card or a credit card, so that the money is paid directly from the buyer's bank account to the shop's bank account: »

EFTPOS could disappear from corner stores as bank charges for the service double.


Financial and business terms. 2012.

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Look at other dictionaries:

  • EFTPOS — This article is for the proprietary system. For a generic discussion see Electronic funds transferEFTPOS (short for Electronic Funds Transfer at Point of Sale ) is an Australian and New Zealand electronic processing system for credit cards, debit …   Wikipedia

  • EFTPOS — /ˈɛftpɒs / (say eftpos) noun Also, EFTPOS system. 1. a system of electronic funds transfer from a customer s account to a merchant s account, operated by the customer by means of a coded plastic card inserted into a special purpose terminal and a …  

  • EFTPOS — Electronic Funds Transfer Point Of Sale (Business » General) …   Abbreviations dictionary

  • EFTPOS — Electronic Fund Transfer at Point of Sale …   Acronyms

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  • EFTPOS —   An acronym for Electronic Funds Transfer at Point Of Sale. Here retail providers of goods and services install telecommunications equipment and clients are issued Smart cards ( for an explanation refer below). When a client wishes to purchase a …   International financial encyclopaedia

  • EFTPOS — [ ɛftpɒz] abbreviation electronic funds transfer at point of sale …   English new terms dictionary

  • EFTPOS — Abbreviation for electronic funds transfer at point of sale …   Accounting dictionary

  • EFTPOS — Abbreviation for electronic funds transfer at point of sale …   Big dictionary of business and management

  • EFTPOS — UK [ˈeftpɒs] / US [ˈeftˌpɑs] noun [uncountable] business electronic funds transfer at point of sale: a system of paying for goods by moving money by computer from the customer s bank account to the account of the company or person they have… …   English dictionary

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