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Online Computer Terms Dictionary - E

EFT ==>

electronic funds transfer

<application, communications> (EFT, EFTS, - system) Transfer of money initiated through electronic terminal, automated teller machine, computer, telephone, or magnetic tape. In the late 1990s, this increasingly includes transfer initiated via the World-Wide Web. The term also applies to credit card and automated bill payments.




Nearby terms: Electronic Data Processing Electronic Design Automation Electronic Frontier Foundation electronic funds transfer Electronic Funds Transfer Point of Sale electronic funds transfer system electronic magazine