Which payment innovation was first introduced by IBM in 1973 and revolutionized retail by allowing electronic authorization of credit card transactions at points of sale?

The evolution of retail payment systems has transformed how we shop and pay for goods. From the earliest cash registers to contactless payments, each innovation has redefined convenience and security. This trivia question focuses on a pivotal development in payment technology that changed retail forever. Test your knowledge about the revolutionary systems that bridged traditional commerce with the digital age!

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Electronic Funds Transfer (EFT) system
Point of Sale (POS) terminal with magnetic stripe reader
Near-Field Communication (NFC) payment system
QR code payment technology