Electronic Funds Transfer Point of Sale
<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)
Nearby terms:
Electronic Design Automation « Electronic Frontier
Foundation « electronic funds transfer « Electronic Funds
Transfer Point of Sale » electronic funds transfer
system » electronic magazine » electronic mail
