Debit cards are often compare to EFTPOS cards, and many debit cards have EFTPOS functionality. However they are actually quite different in some respects. EFTPOS stands for Electronic Funds Transfer at Point of Service and the money mostly comes from a bank current account. Debit cards are cards that use the credit card payment system [...]
EFTPOS, or Electronic Funds Transfer at Point of Service, is the backbone of the debit card system. To the consumer the EFTPOS system seems simple. They present a card, it gets confirmed by either a signature or a pin number and then they have the good while their bank account decredebiases by this price. In [...]
EFTPOS, or debit, cards are quite commonly compared to pre-paid credit cards. This is because although they both look like credit cards and they are accepted by the same payment system that credit cards are accepted by. In fact they are quite different. There are also prepaid debit cards, also called “reloadable debit cards”. These [...]