EFTS -->
electronic funds transfer
computing dictionary

<software 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.

Acronym: EFTS

(01 Apr 1999)