<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.
Last updated: 1999-12-08
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Nearby terms: Electronic Design Automation « Electronic Discrete Sequential Automatic Computer « Electronic Frontier Foundation « electronic funds transfer » Electronic Funds Transfer Point of Sale » electronic funds transfer system » electronic magazine