A prefix meaning one hundredth (1/100). Example: 1/100th of a meter is called a centimeter (there are 100 centimeters in a meter).
EFT Debits (Normal Debit Orders) EFT Debits, previously known as Magtape debits or ACB, allows a business or organisation to debit the account of their client in order to fulfil the obligations of an underlying agreement.
Merchant Account Electronic Benefit Transfer Explained: What is EBT? EBT, or Electronic Benefit Transfer, is a system that allows state welfare recipients to pay for their goods using a card with a magnetic strip. This form of payment has replaced the Food Stamp Program, which issued paper coupons to recipients.