EFTPOS
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- This article is for the proprietary system. For a generic discussion see Electronic funds transfer
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EFTPOS (Electronic Funds Transfer at Point of Sale) is an Australian and New Zealand electronic processing system for credit cards, debit cards and charge cards.[1] EFTPOS also allows users of the system to withdraw cash at the time of purchasing a product or service through the merchant's EFTPOS terminal.[2] This functionality is called debit card cashback in other countries.
The name and logo for EFTPOS in Australia were originally owned by the National Australia Bank and were trade marks from 1986 until 1991[3]. There are over 60,000 participating EFTPOS outlets in Australia [4] and 665,054 EFTPOS terminals[5] as of March 2009. In 2008, Australian EFTPOS terminals were responsible for 144.6 million transactions[6] worth $ 9.8 billion AUD[7] per month.
European banks and card companies also sometimes reference "EFTPOS" as the system used for processing card transactions through terminals on points of sale, though the system is not the trademarked Australian/New Zealand variant.
