Which organization is abbreviated as EFTA?

Which organization is abbreviated as EFTA?

• A. Electronic Funds Transfer Association
• B. Electronic Federal Transactions Agency
• C. Electronic Funding Transfer Association
• D. Electronic Financial Transaction Agency

Answer: (A)

The organization abbreviated as EFTA is the Electronic Funds Transfer Association. This association focuses on promoting and supporting the use of electronic funds transfer technology, which encompasses different methods of electronically moving money from one bank account to another without recourse to paper checks. This includes systems like automated clearing house (ACH) transactions, wire transfers, and debit card transactions. The EFTA plays a significant role in establishing standards and best practices related to electronic funds transfer in the payment industry, helping to create a secure and efficient payment environment. The other options represent variations that do not accurately reflect the name or purpose of the association. They may incorporate similar terms but do not correspond to the recognized organization dedicated to electronic funds transfer practices and advocacy.

The organization abbreviated as EFTA is the Electronic Funds Transfer Association. This association focuses on promoting and supporting the use of electronic funds transfer technology, which encompasses different methods of electronically moving money from one bank account to another without recourse to paper checks. This includes systems like automated clearing house (ACH) transactions, wire transfers, and debit card transactions. The EFTA plays a significant role in establishing standards and best practices related to electronic funds transfer in the payment industry, helping to create a secure and efficient payment environment.

The other options represent variations that do not accurately reflect the name or purpose of the association. They may incorporate similar terms but do not correspond to the recognized organization dedicated to electronic funds transfer practices and advocacy.