From Longman Business DictionaryEFTPOSEFTPOS /ˈeftpɒs-pɑːs/ noun [uncountable] BANKING Electronic Funds Transfer at Point of Sale; a system in Britain for paying for goods without using cash or cheques. The buyer’s DEBIT CARD or CREDIT CARD is put into a special machine connected to a central computer that automatically takes money out of their account and puts it into the seller’s account
