Cashback

Cashback
Cashback refers to the option given to customers to receive cash back while making a purchase with a debit or credit card at a point-of-sale terminal.
Electronic Funds Transfer at Point of Sale (EFTPOS)
EFTPOS is the automatic debiting of a purchase price from a customer's bank or credit-card account through a computer link between the checkout till and the bank or credit-card company, often involving chip-and-PIN systems for secure transactions.

Accounting Terms Lexicon

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