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For anyone new to EFTPOS payments, the system can seem strange and difficult to understand. In actual fact it’s a simple solution to making payments easy, and unlike a credit card payment, there’s no merchant fees. Our quick introduction to EFTPOS is well worth a read and provides an easy to understand summary of what EFTPOS is. You’ll find an explanation of what EFTPOS stands for, the history of EFTPOS and also the complex system that sits behind it that makes it possible to make payments as a customer and receive money as a merchant.