0
If you're asking why they would want to only use electronic transactions of money, it's because studies have shown that using a credit card, debit card, or check is less painful than actually handing someone money and people are likely to spend more. I learned this from Dave Ramsey, here's a little blurb from his website.
Cash vs. Credit CardsWhen you pay cash, you can "feel" the money leaving you. This is not true with credit cards. Flipping a credit card up on a counter registers nothing emotionally. A study of credit card use at McDonald's found that people spent 47% more when using credit instead of cash. This is money you could have saved! http://www.daveramsey.com/article/the-truth-about-credit-card-debt/lifeandmoney_creditcards/
What else can I help you with?
What is the difference between EDI and EFT?
EDIEFTIt stands for Electronic Data Interchangeit stands for Electronic Funds TransferIt is referred to as without involving thephysical movement of paper instruments.it enables account to paperless trading.account funds transfer
how do I set up electronic funds transfer?
how do I set up electronic funds transfer
What has the author Thomas F Horan written?
Thomas F. Horan has written: 'Electronic payment systems' -- subject(s): Electronic funds transfers 'Electronic funds transfer systems' -- subject(s): Electronic funds transfers
How long does it take transfer money from Mauritius to England by bank?
That depends - on how fast the transaction is processed by the bank in Mauritius. One the transaction is approved - electronic movement of the funds is almost instantaneous.
Full form of NEFT?
National Electronic Funds Transfer
What is the full form of NEFT?
National Electronic Funds Transfer.
What is the full form of EFT?
electronic funds transfer (EFT)
In bank process what is meant by NEFT?
National electronic funds transfer.......
What company facilitates electronic funds transfers throughout the world?
Visa
What is an 820 transaction in regards to an electronic funds transfer?
An 820 Transaction in regards to an Electronic Funds Transfer is the software program that starts the transfer process. An 820 Transaction and the EFT are actually the same thing.
What has the author Paul A Carrubba written?
Paul A. Carrubba has written: 'A Practical Guide to U.C.C. Article 4a Funds Transfer' 'Remote deposit capture' -- subject(s): Check collection systems, Electronic funds transfers, Electronic funds transfers equipment industry
What is definition of e-commerce?
E-commerce refers to the purchase and sale of goods and services over the internet, as well as the movement of funds and data to complete the transaction. Electronic commerce, or internet commerce, is another name for it.
