Electronic Funds Transfer Systems (EFTS) are facing a crisis that must soon be overcome. In order to achieve the maximum cost benefits of EFTS, it is necessary that automated banking transactions be accepted on a widespread basis. General acceptance has not yet occured because of problems with EFTS perceived by consumers and bankers. The potential for loss through any number of new exposures is too great in the minds of many. This attitude must change before widespread acceptance of EFTS is to be accomplished.
ACM SIGSAC Review – Association for Computing Machinery
Published: Apr 1, 1986