Noun
EFTPOS (uncountable)
(banking) Acronym of Electronic Funds Transfer at Point of Sale.
After a short processing time in which the terminal contacts the EFTPOS network and the bank, the transaction is approved (or declined) and a receipt is printed. Source: Internet
Although the term eftpos is popularly used to describe the system, EFTPOS is a trademark of EFTPOS New Zealand the smaller of the two providers. Source: Internet
A feature of a debit card is that an eftpos transaction will only be accepted if there is an available credit balance in the bank cheque or savings account linked to the card. Source: Internet
As of 2005, most stores and petrol outlets have EFTPOS facilities. Source: Internet
As a further security measure, if a user enters an incorrect PIN three times, the card may be locked out of EFTPOS and require reactivation over the phone or at a bank branch. Source: Internet
All banks offer a debit card suitable for EFTPOS with current accounts. Source: Internet