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Electronic Funds Transfer at Point Of Sale, abbreviated as EFTPOS (/ ˈ ɛ f (t) p ɒ s /), is the technical term referring to a type of payment transaction where electronic funds transfers (EFT) are processed at a point of sale (POS) system or payment terminal usually via payment methods such as payment cards (debit cards, credit cards or gift cards).
PAX Technology S90 credit card terminal with a Visa card inserted.. A payment terminal, also known as a point of sale (POS) terminal, credit card machine, card reader, PIN pad, EFTPOS terminal (or by the older term as PDQ terminal which stands for "Process Data Quickly" [1]), is a device which interfaces with payment cards to make electronic funds transfers.
As of 2005, HSBC and its subsidiary, HSBC Savings Bank, although both members of Expressnet, do not participate in the EPS system, meaning that HSBC and HSBC Savings Bank ATM cards cannot be used on an EPS terminal. In addition to functioning as an ATM EFTPOS terminal, EPS terminals also accept BPI credit, debit and prepaid cards. However ...
According to the United States Electronic Fund Transfer Act of 1978 it is "a funds transfer initiated through an electronic terminal, telephone, computer (including on-line banking) or magnetic tape for the purpose of ordering, instructing, or authorizing a financial institution to debit or credit a consumer's account". [2] Funds Transfer example
A message may enter an ATMC from an ATM, another ATMC or a third party. When receiving a message, the ATMC will examine the message, validate the PIN block if present, and then route the message according to the leading digits of the account number referenced.
Cabcharge provides EFTPOS terminals, free of charge or below cost, to approximately 97% of taxis in Australia. However, there are competitors like Live taxi and Motorpass. Cabcharge justifies the surcharge on the basis that it incurs the costs associated with transactions including card and other product production, in-taxi processing ...
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Pulse is an interbank electronic funds transfer (EFT) network in the United States.It serves more than 4,400 U.S. financial institutions and includes more than 380,000 ATMs, as well as POS terminals nationwide.