electronic funds transfer at point of sale

noun

a system for debiting a retail sale direct to the customer's bank, building-society, or credit-card account by means of a computer link using the telephone networkAcronym: EFTPOS

Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012