EFTPOS

EFTPOS

:"This article is for the proprietary system. For a generic discussion see Electronic funds transfer

EFTPOS (short for "Electronic Funds Transfer at Point of Sale") is an Australian and New Zealand electronic processing system for credit cards, debit cards and charge cards. [ [http://www.boq.com.au/business_merchant_eftpos.htm EFTPOS. Merchant banking services. EFTPOS. Bank of Queensland Australia ] ]

EFTPOS also allows users of the system to withdraw cash at the time of purchasing a product or service through the merchant's EFTPOS terminal. [ [http://www.nab.com.au/Personal_Finance/0,,9493,00.html Nab - Eftpos ] ] This functionality is called debit card cashback in other countries.

The name and logo for EFTPOS in Australia were originally owned by the National Australia Bank and were trade marks from 1986 until 1991 [ [http://pericles.ipaustralia.gov.au/atmoss/falcon_details.show_tm_details?p_tm_number=449716&p_search_no=2&p_ExtDisp=D&p_detail=DETAILED&p_rec_no=10&p_rec_all=20 ATMOSS - Australian Trade Mark Online Search System ] ] . There are over 60,000 participating EFTPOS outlets in Australia. [ [http://www.nab.com.au/Personal_Finance/0,,9493,00.html Nab - Eftpos ] ]

European banks and card companies also sometimes reference "EFTPOS" as the system used for processing card transactions through terminals on points of sale, though the system is not the trademarked Australian/New Zealand variant.

References


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  • EFTPOS — Acronym for Electronic Funds Transfer at Point of Sale . Payment is transferred usually from a checking account at the point of sale. Bloomberg Financial Dictionary * * * EFTPOS EFTPOS [ˈeftpɒs ǁ pɑːs] noun [uncountable] BANKING Electronic Funds… …   Financial and business terms

  • EFTPOS — /ˈɛftpɒs / (say eftpos) noun Also, EFTPOS system. 1. a system of electronic funds transfer from a customer s account to a merchant s account, operated by the customer by means of a coded plastic card inserted into a special purpose terminal and a …  

  • EFTPOS — Electronic Funds Transfer Point Of Sale (Business » General) …   Abbreviations dictionary

  • EFTPOS — Electronic Fund Transfer at Point of Sale …   Acronyms

  • EFTPOS — Electronic Fund Transfer at Point of Sale …   Acronyms von A bis Z

  • EFTPOS —   An acronym for Electronic Funds Transfer at Point Of Sale. Here retail providers of goods and services install telecommunications equipment and clients are issued Smart cards ( for an explanation refer below). When a client wishes to purchase a …   International financial encyclopaedia

  • EFTPOS — [ ɛftpɒz] abbreviation electronic funds transfer at point of sale …   English new terms dictionary

  • EFTPOS — Abbreviation for electronic funds transfer at point of sale …   Accounting dictionary

  • EFTPOS — Abbreviation for electronic funds transfer at point of sale …   Big dictionary of business and management

  • EFTPOS — UK [ˈeftpɒs] / US [ˈeftˌpɑs] noun [uncountable] business electronic funds transfer at point of sale: a system of paying for goods by moving money by computer from the customer s bank account to the account of the company or person they have… …   English dictionary

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