This term refers to the use of payment cards at a retail location (point of sale). The payment information is captured either on paper vouchers or by electronic terminals, which, in some cases, are designed to also transmit the information (in which case the arrangement may be referred to as "electronic funds transfer at point of sale" (EFTPOS)).
Copyright © 2006, European Central Bank
, Frankfurt am Main, Germany. This information may be obtained free of charge through the ECB