debit card

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Related to EFT POS: Electronic Funds Transfer Point of Sale

debit card,

card that allows the cost of goods or services that are purchased to be deducted directly from the purchaser's checking account. They can also be used at automated teller machinesautomated teller machine
(ATM), device used by bank customers to process account transactions. Typically, a user inserts into the ATM a special plastic card that is encoded with information on a magnetic strip or computer chip.
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 for withdrawing cash from the user's checking account. Increasingly common in the 1990s as an alternative to credit cardscredit card,
device used to obtain consumer credit at the time of purchasing an article or service. Credit cards may be issued by a business, such as a department store or an oil company, to make it easier for consumers to buy their products.
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, debit cards have been promoted as safer than cash and more convenient than personal checks. By 1998 more than 73 million debit cards had been issued, with a sales volume of $134.7 million attributed to their use. They are typically issued by large credit-card companies through their participating banks. Debit cards offer the holder more limited legal protections than credit cards. Similar cards have also been used to distribute welfare benefits to recipients in some locales.
References in periodicals archive ?
The first-of-a-kind EFT POS terminal will incorporate both present and future requirements for First Data subsidiaries that provide transaction services at the point-of-sale, including Western Union and First Data Merchant Services.
30, 2014 /PRNewswire/ -- This research service covers the global market for EFT POS terminals.
Point_of_Sale_Systems,_POS Industry : Global EFT POS Terminals Market
Euronet's global payment network is extensive - including 15,614 ATMs, approximately 69,000 EFT POS terminals and a growing portfolio of outsourced debit and credit card services which are under management in 34 countries; card software solutions; a prepaid processing network of approximately 607,000 POS terminals at approximately 294,000 retailer locations in 29 countries; and a consumer-to-consumer money transfer network of approximately 155,000 locations serving 136 countries.
In an age of increased fraud and security breaches, PCI PED certification is a rigorous banking and financial industry security standard that must be cleared by all suppliers of EFT POS payment systems.
Zilog's Zatara(TM) family was built from the ground up to deliver the highest level of security and safety to protect the integrity of EFT POS transactions.
Euronet's global payment network is extensive - including 14,224 ATMs, approximately 57,000 EFT POS terminals and a growing portfolio of outsourced debit and credit card services which are under management in 32 countries; card software solutions; a prepaid processing network of approximately 615,000 POS terminals at approximately 293,000 retailer locations in 29 countries; and a consumer-to-consumer money transfer network of approximately 146,000 locations serving 136 countries.
com/ ), World EFT POS Terminals Markets, reveals that the market accrued revenues of $1.