electronic funds transfer

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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.
This article is provided by FOLDOC - Free Online Dictionary of Computing (foldoc.org)

EFT

(Electronic Funds Transfer) The transfer of money from one account to another by computer. See ACH.
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References in periodicals archive ?
Transportation in the Philippines is a category where Filipinos are keen to use e-payments. Based on the study, almost nine out of 10 Filipinos are generally supportive of e-payments for transportation, including for jeepneys, buses, trains, taxis and private car hires.
Releasing a statement, the bank also asked customers to obtain EMV chip-based payments cards from their respective Licensed Financial Institutions without delay and exercise caution when sharing information that can be used to carry out e-payments.
The firm has already taken measures to boost its focus on the e-payments sector through its e-wallet Boost and has acknowledged that it is seeking a banking license.
LAHORE -- Two leading national companies engaged in e-payments and transport services have entered into a strategic partnership for digitising and scaling up the transport industry by providing the opportunity to increase adoption of mobile payments.
One of the most notable Egyptian FinTech startups is Masary, a provider of e-payments through more than 70,000 locations.
BSP Deputy Governor Chuchi Fonacier told The STAR the regulator is looking at using the NRPS framework for the electronic collection or payments of taxes to the Bureau of Internal Revenue (BIR) using one of the two automated clearing houses (ACHs) as part of a safe, efficient, affordable, and reliable e-payments system.
Cristina Doros, Senior Director and Head of Products for CIS and South-Eastern Europe at VISA, told Trend that Azerbaijan is a priority market for increasingthe presence of VISA, introducinginnovations and developingthe e-payments market.
Before the days of e-payments, payment by check was common for credit managers, some of whom still practice the paper payment method.
Khasawneh highlighted the Chief Islamic Justice Department's tasks and duties and the legislation governing its work as well as quality services provided to citizens and residents in the Kingdom, such as the automation of services, e-payments and the family's e-card.
'Citizens will be able to not only make their e-challan payments at cash counters of some banks but also may have an android application and ATM payment solution, in addition to e-payments through all partner banks soon as promised by them.
18 (BNA): Bahrain Bourse (BHB) has concluded its participation as co-partner in the second E-Payments and Online Banking Summit held under the patronage of the Central Bank of Bahrain and Chairmanship of
Hafiz explained that e-payments saved time and effort and allowed people to access service and goods around-the-clock.