EFTPOS
noun[U]
uk/ˈeftpɒz/usBANKING,COMMERCE
abbreviationforelectronicfundstransferatpointofsale: asystemofpayingforgoodsorservicesinshopsusing abankcardor acreditcard, so that themoneyispaiddirectlyfrom the buyer'sbankaccountto the shop'sbankaccount:
EFTPOS coulddisappearfromcornerstoresasbankchargesfor theservicedouble.