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Glossary   >   E   >   "Electronic funds transfer (at point of sale)" Definition            Electronic funds transfer (at point of sale) An electronic payment system in which a plastic card is used to purchase goods or services. Subsequently the seller obtains payment by the electronic transfer of funds from the purchaser"s card account. Glossary    Dictionary Search (powered by Google) WWW ITLOCUS.COM GLOSSARY.ITLOCUS.COM Translate a web page (powered by Google)      to German Spanish French Italian Portuguese Japanese Korean Chinese

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Electronic funds transfer (at point of sale) - An electronic payment system in which a plastic card is used to purchase goods or services. Subsequently the seller obtains payment by the electronic transfer of funds from the purchaser"s card account.