What is the exact role of EFTS (Electronic Fund Transfer System) in E-commerce?

Question

I need the answer as soon as possible and also it should be an exact answer so that my problem could be solve easily. thanks and byez

Answer 1

EFTS virtually eliminates the need to create invoices and write checks for re-imbursement.
EFTS offers:

Ability to deposit funds by credit card (VISA/MasterCard)
Prevention of double billing
Secured online accounts
Files uploaded and processed in real-time
Detailed reports available online
Up to date account activity
Flexibility to handle varied charges
Online billing tools -- no need for third party software
Also Visit:
https://efts.uchc.edu/efts/Static/EFTS%20website/faq.html
Thanks.