e-commerce

As compared to ‘normal’ commerce involving face-to-face or written communication, ‘electronic commerce’ revolves around a complete electronic interface and typically refers to Internet commerce.
Many people relate ‘electronic commerce’ as if it only happens on the internet. This is not accurate. Any electronic transfer of funds is ‘e-commerce’.
For example, ATMs or Automatic Teller Machines are electronic versions of tellers in banks in that they give you money based upon the electronic storage of your banking details and the magentic data strip on your credit card.
Similarly, the name EFTPOS tells it all. EFTPOS stands for ‘Electronic Funds Transfer at Point Of Sale’.