What Are Electronic Transfer Funds?

Electronic funds transfer system, referred to as EFTS, is the abbreviation of Electronic Financial Transaction Service, which is a platform system that uses communication protocols as the exchange mechanism. It is used between international card organizations (VISA, MasterCard, Amex, Diners, JCB, etc.), UnionPay Headquarters, local UnionPay, national and provincial bank card network exchange centers, bank hosts, terminal equipment (ATM, POS, etc.), etc. Carry out the processing, transfer, authorization and other processing of bank card online transactions, so as to support cross-border, cross-region, and cross-bank bank card online transactions, and can also be used to provide complete transfer services for one or more banking institution systems, and The bank's various business subsystems are organically integrated.