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Electronic Funds Transfer Point of Sale

   Also found in: Dictionary/thesaurus, Financial, Wikipedia 0.03 sec.
(business, real-time)Electronic Funds Transfer Point of Sale - 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.


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2 Electronic Funds Transfer Point of Sale (EFTPOS) 4.
17, 1998--Dynamic Data Systems (DDS), an Australian manufacturer of wireless electronic funds transfer point of sale (EFTPOS) terminals, selected Motorola Series 500 Integrated Wireless Modems for two-way wireless data communications.
BUSINESS WIRE)--June 19, 1998-- Western Open First in Series of Nationwide Wireless Electronic Funds Transfer Point of Sale (EFTPOS) Pilot Programs Motorola, VeriFone, NDC subsidiary Global Payment Systems and American Mobile today announced they will provide a wireless Electronic Funds Transfer Point of Sale (EFTPOS) solution for merchandise sales at the Motorola Western Open, June 22-28.
 
 
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