Electronic Funds Transfer (EFT) and its Use in the Navy.
NAVAL POSTGRADUATE SCHOOL MONTEREY CA
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The application of Electronic Funds Transfer EFT, a new technology, and its potential use in the U.S. Navy is examined. The present payments system is reviewed and found to be performing satisfactorily as far as consumers are concerned. However, business, government and financial institutions see opportunities for reducing costs and improving services, given new technology and changes in banking regulations. The EFT system is described along with the climate for changing the current payment system, suggesting the existence of a fertile base for growth of EFT in the Navy. Accordingly, implementation of EFT at a naval field activity is simulated, showing that significant dollar savings and payee service benefits can be realized. Since consumer acceptance of EFT is vital for its implementation, an analysis is made of a survey given to payees who have accepted EFT. Author
- Administration and Management