BNET Business Dictionary

Business Definition for: Electronic Funds Transfer At Point Of Sale

the payment for goods or services by a bank customer using a card that is swiped through an electronic reader on the register, thereby transferring the cash from the customer's account to the retailer's or service provider's account.
See also Debit Card

Additional Resources

AUSTRALIAN BANKS TO STOP CHARGING EACH OTHER EFTPOS FEES.: SYDNEY, Dec 12 Asia Pulse - Banks are to stop charging each other EFTPOS fees but have yet to decide whether to also axe them for consumers. The national consumer watchdog yesterday approved a bank-led proposal to fix the wholesale fees for Electronic Funds Transfer at Point of...; Tags: Australian Competition and Consumer Commission, bank, cardholder, FINANCE, payment, Retail; Research articles 2003-12-12
Australian Competition Tribunal - EFTPOS decision.: M2 PRESSWIRE-27 May 2004-ACCC: Australian Competition Tribunal - EFTPOS decisionC1994-2004 M2 COMMUNICATIONS LTD RDATE:05272004 The Australian Competition Tribunal decision yesterday to deny authorisation* to an agreement to fix the wholesale fees for electronic funds transfer at point of sale EFTPOS transactions...; Tags: agreement, Australian Competition and Consumer Commission, bank, Tribunal; Research articles 2004-05-27
ACCC proposes to deny E.F.T.P.O.S. price-fix.: M2 PRESSWIRE-8 August 2003-ACCC: ACCC proposes to deny E.F.T.P.O.S. price-fixC1994-2003 M2 COMMUNICATIONS LTD RDATE:08082003 The Australian Competition and Consumer Commission today issued a draft authorisation* decision rejecting a proposal by banks and others** to fix the wholesale fees for electronic funds...; Tags: Australia, Australian Competition and Consumer Commission, bank, network, payment, SALES; Research articles 2003-08-08
Bank computer gremlin wreaks business havoc.: Jan 31, 2002 The Mercury ABIX via COMTEX -- Business transactions were disrupted in Tasmania when Commonwealth Bank of Australia's CBA computers went offline. Electronic funds transfer at point of sale EFTPOS, automated teller machines ATMs and Internet banking services were affected throughout...; Tags: Commonwealth Bank of Australia; Research articles 2002-01-30
Eftpos for all reasons in cards.: Mar 26, 2003 (The Australian - ABIX via COMTEX) The Commonwealth Bank of Australia intends to extend its electronic funds transfer at point of sale eftpos services. The bank, with about 30 per cent market share in Australia, equating 100,000 or so eftpos cardholders,...; Tags: Commonwealth Bank of Australia; Research articles 2003-03-26

Westpac seeks smart partner.: Oct 20, 2003 (The Australian Financial Review - ABIX via COMTEX) Australia's Westpac Banking may have found a way to beat the cost of moving to new smartcard technology. The bank is reportedly looking for an outsourcing partner to take on the burden of moving...; Tags: Ingenico, KeyCorp, MasterCard International, Visa Inc., Westpac Banking Corp.; Research articles 2003-10-20
Smart card success dependent on majors.: Aug 16, 2001 (Australian Banking & Finance ABIX via COMTEX) -- The rollout of smart card technology is being delayed by Australia's major banks. The major banks, which control electronic funds transfer at point of sale EFTPOS terminals, have been slow to invest in...; Tags: American Express Co., Commonwealth Bank of Australia; Research articles 2001-08-22
ATM, Point-of-Sale Transactions Processed Without a Hitch By PULSE EFT Association on 9/9/99 Testing Milestone: HOUSTON--BUSINESS WIRE--Sept. 15, 1999-- For more than 20 million PULSER debit cardholders, it was business as usual on Y2K testing milestone 9/9/99, with PULSER EFT Association processing in excess of a million transactions without a hitch. But for PULSE, one of the nation's leading shared electronic funds transfer...; Tags: Pulse EFT Association Inc.; Research articles 1999-09-15
FROST & SULLIVAN: The European market for EPoS/EFTPoS -- Report 3140: M2 PRESSWIRE-24 June 1998-FROST & SULLIVAN: The European market for Electronic Point-of-Sale/ Electronic Funds Transfer at the Point-of-Sale (EPoS/EFTPoS) -- Report 3140 C1994-98 M2 COMMUNICATIONS LTD RDATE:010798 -- Retailers' loyalty schemes and data warehousing poised to stimulate growth in EPoS/EFTPoS markets Retailers' introduction...; Tags: Authentication/Encryption, Frost & Sullivan, Retail, SECURITY; Research articles 1998-06-24

Neighboring Terms

Your Work The 7 Interview Questions You Must Ask

The 7 Interview Questions You Must Ask

Forget 'What are your strengths and weaknesses?' If you want to get the real dope on prospective employees, ask job candidates these seven questions.
Your Industry Chicken War: KFC Appears to Be Plucking El Pollo Loco

Chicken War: KFC Appears to Be Plucking El Pollo Loco

In the highly publicized chicken wars, KFC seems to be winning the financial battle over El Pollo Loco. But is it really fair to compare the smaller chain to Colonel Sanders' empire?
Your Money Dumbest Things You Do With Your Money

Dumbest Things You Do With Your Money

Even smart people make financial moves that are downright illogical. Emotions and superstitions have a sneaky way of keeping you from rational financial decisions. But dumb choices can have serious, real-world consequences. Here are some of the biggest blunders we all make, plus tips from the experts on how to keep cool.