Electronic funds transfer or EFT refers to the computer-based systems used to perform financial transactions electronically. The term is used for a number of different concepts: Cardholder-initiated transactions, where a cardholder makes use of a payment cardDirect deposit payroll payments for a business to its employees, possibly via a payroll services company Direct debit payments from customer to business, where the transaction is initiated by the business with customer permission Elect
Tags: Computer Based Systems, Customer Permission, Debit Payments, Deposit Payroll, Different Concepts, Elect, Electronic Funds Transfer, Financial Transactions, Payroll Payments, Payroll Services
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