EFTPos stands for Electronic Funds Transfer Point of Sale.

It is the same as direct debit in that it allows the retailer to debit a consumer’s bank account using their debit card. Currently in Australia, retailers are using Chip and Pin and a lot have now added PayWave, but most of the machines at the cash counter will allow you to enter a pin number if you have it.  If not, then you will have to brush up again on your signature….Yes, so places do still need it!

Check out this Wikipedia page for more details on EFTPOS