(ɛftpɒs) or electronic funds transfer point of sale
abbreviation
(Retail: Payment technology)
EFTPOS is a system for deducting the cost of a purchase direct from the customer's bank, building-society, or credit-card account by meansof a computer link using the telephone network.
I'd already paid by EFTPOS and didn't have 10c for the plastic bag so had to break a $20 bill.
With EFTPOS the money is wired directly into the retailer's account, and the shopper does notneed cash on hand, credit cards, or a check book to make a purchase.
EFTPOS is a system for deducting the cost of a purchase direct from the customer's bank,building-society, or credit-card account by means of a computer link using the telephonenetwork.