What does EFT mean in e-commerce?

One application of e-commerce is electronic payment. EFT is the abbreviation of "electronic fund transfer", which means "electronic fund transfer". Electronic Transfer (EFT) is an electronic payment system for transferring funds at high speed, which is established by banks using computers, terminals, electronic information networks and other electronic communication equipment after computers are applied to banking business.

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E-commerce related objects:

The formation and transaction of e-commerce cannot be separated from the following four aspects:

I. Trading platform

The third-party e-commerce platform (hereinafter referred to as the third-party trading platform) refers to the sum of information network systems that provide transaction matching and related services for two or more parties in e-commerce activities;

Second, platform operators.

Operators of third-party trading platforms (hereinafter referred to as platform operators) refer to natural persons, legal persons and other organizations that have registered with the administrative department for industry and commerce and obtained business licenses, engaged in the operation of third-party trading platforms and provided services for both parties to the transaction;

Third, station operators.

In-station operators of third-party trading platforms (hereinafter referred to as in-station operators) refer to natural persons, legal persons and other organizations engaged in trading and related service activities on e-commerce trading platforms.

Fourth, the payment system

Payment system is a kind of financial arrangement, sometimes called clearing system, which is composed of intermediaries and professional technical means that provide payment and clearing services, and realizes payment instruction transmission and fund settlement.

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