Again you have a strange definition of "millisecond".
No, the approval time is a few hundred milliseconds. Where are you getting this 5 or 10 seconds from? It sends the details to the bank and the bank sends the response, that doesn't take 5 or 10 seconds.
A few milliseconds doesn't even cover the time it takes the checkout operator to press the button that sends the transaction to the EFT processor for you to insert your card (my country uses chip and pin, my current card doesn't even have a magstripe).
Read what was actually written rather than interpreting it as something else "Every transaction approval I've had for the last 15 years has been nearly instantaneous."
Lets not even consider those smaller stores who need to key in the price manually because the EFTPOS system isn't linked to the register
Yes, let's not since that wasn't what was being discussed.