Electronic funds transfer: the consumer implications

Abstract

Electronic funds transfer, as a practical means of payment, has still not yet resolved basic problems in its application, and there is much uncertainty as to when it will actually take off in this country. Jeremy Mitchell of the National Consumer Council takes a highly sceptical view of its viability as a payment system; he is particularly concerned that the banks have not consulted the Council abouts its implications nor, so far as he knows, other consumer organisations. His doubts are grouped around the headings of privacy, errors, payment procedures, and costs and benefits; these were the main points he dealt with in an address at the EPOS 80 Congress in June.

Citation

Mitchell, J. (1980), "Electronic funds transfer: the consumer implications", Retail and Distribution Management, Vol. 8 No. 6, pp. 40-42. https://doi.org/10.1108/eb018080