from
The Free On-line Dictionary of Computing (8 July 2008)
Electronic Funds Transfer Point of Sale
EFTPOS
<business, real-time> 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.
(2003-06-22)