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.
For the 21st century currency, see Digital currency. Electronic money, or e-money, is the money balance recorded electronically on a stored-value card or other device. These cards have microprocessors embedded which can be loaded with a monetary value. Another form of electronic money is network money, software that allows the transfer of value on computer networks, particularly the internet.