A variety of systems and technologies for transferring funds electronically rather than by check.

Any transfer of funds--other than by check, draft, or similar paper instrument--that is initiated through an electronic terminal, telephone, computer, or magnetic tape for the purpose of ordering, instructing, or authorizing a financial institution to debit or credit an account.

Any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument, which is initiated through an electronic terminal, telephone instrument, or computer or magnetic tape to authorize a financial institution to debit or credit an account.

Management of cash flow and timing of payment to suppliers and retailers using electronic data interchange.