Electronic Funds Transfer at Point of Sale (EFTPOS) systems have become an essential tool for businesses worldwide. From retail stores to restaurants, this technology allows customers to pay for goods and services quickly and securely using their bank cards. Understanding how EFTPOS works and its benefits can help businesses enhance customer satisfaction and streamline their payment processes. Keep reading to cover the fundamental aspects of EFTPOS and see why it’s crucial for modern businesses. What Is EFTPOS? EFTPOS is a payment method that allows customers to transfer funds electronically from their bank account to a merchant’s account during a sale. When a customer uses their debit or credit card to make a payment, the EFTPOS machine connects to the customer’s bank, verifies the transaction, and transfers the funds to the merchant. Many businesses today also offer the option of using a mobile EFTPOS machine, which allows for increased flexibility in payment processing,...