Electronic funds transfer at point of sale (EFTPOS; /ˈɛf(t)pɒs/) is an electronic payment system involving electronic funds transfers based on the use of payment cards, such as debit or credit cards, at payment terminals located at points of sale. EFTPOS technology was developed during the 1980s. In Australia and New Zealand, it is also the brand name of a specific system used for such payments; these systems are mainly country-specific and do not interconnect. Other countries use different brand names for their eftpos systems, such as NETS in Singapore. Country specific eftpos systems have been overtaken by global EMV based systems with contactless payments. More information...
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