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.
Glossary.
(1999-12-08)
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
