electronic funds transfer
Method of transferring funds automatically from one account to another by electronic means, such as electronic funds transfer at point of sale (EFTPOS), which provides for the automatic transfer of money from buyer to seller at the time of sale. For example, a customer inserts a plastic card into a point-of-sale computer terminal in a supermarket, and telephone lines are used to make an automatic debit from the customer's bank account to settle the bill.
How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content.
| ?Page tools | ||
|---|---|---|
|
?Sign in  |
|---|