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Electronic Funds Transfer (EFT)
A paperless transmission of electronically recorded payment data, representing a monetary value in a certain currency. It replaces paper instruments like checks and is accepted as prove of payment by a customer, merchant or bank in lieu of cash (see also Direct Debit).
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A payment method supported by Austrian banks. It offers direct online banking access similar to giropay, providing secure payment processing and on-demand payment guarantee.


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