What does EFTPOS mean in Accounting?
This page is about the meanings of the acronym/abbreviation/shorthand EFTPOS in the Business field in general and in the Accounting terminology in particular.
Submitted by paul8539 on January 9, 2009
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Definition
What does EFTPOS mean?
- EFTPOS
- Electronic funds transfer at point of sale (EFTPOS ) 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 originated in the United States in 1981 and was adopted by other countries. 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. Debit and credit cards are embossed plastic cards complying with ISO/IEC 7810 ID-1 standard. The cards have an embossed bank card number conforming with the ISO/IEC 7812 numbering standard.
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"EFTPOS." Abbreviations.com. STANDS4 LLC, 2024. Web. 13 Nov. 2024. <https://www.abbreviations.com/term/201326>.
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