The Law Dictionary

Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

ELECTRONIC FUNDS TRANSFER AT POINT-OF-SALE (EFT-POS) Definition & Legal Meaning

Definition & Citations:

Retail trade system managing transactions online. Monies authorized by the buyer is electronically transferred from his or her account to that of the retailer. The buyer swipes his or her bank or credit card through a magnetic stripe reader and enters a personal identification number (PIN).

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