electronic funds transfer point of sale

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)