E-payments - Hutchinson encyclopedia article about E-payments Printer Friendly
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electronic funds transfer
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   Also found in: Financial, Encyclopedia, Wikipedia 0.01 sec.

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.



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Trintech is a leader in secure e-payments and we will continue working with RSA as we both pursue an aggressive global strategy for secure e-payments.
 
 
 
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