electronic funds transfer at point-of-sale (EFT-POS)
Definition
Online-transaction handling system commonly used in retail trade. The buyer swipes his or her bank or credit card through a magnetic-stripe reader and enters a personal identification number (PIN). The amount authorized by the buyer is electronically transferred from his or her account to that of the retailer.
News containing the term electronic funds transfer at point-of-sale (EFT-POS)
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