Now in our 5th decade, the Electronic Funds Transfer Association is a professional association dedicated to the advancement of electronic payments and commerce. Our objective is to inform debate over the consumer, business and policy aspects of new and existing payments technology. We do this through public outreach to Congress, the Executive Agencies, consumers and the media.
Since its founding in 1977, EFTA has represented its members on a range of topics, from ATMs and debit technology to current issues like data breach and cybersecurity, data privacy and mobile payments. EFTA membership includes top ten banks, payment processors, ATM & debit networks, card companies, technology providers, security companies, ATM owners and manufacturers and government agencies.
The key to EFTA’s longevity has been its ability to provide an informed, credible, objective opinion on electronic payments issues. EFTA’s membership spans multiple industries, including financial institutions, processors, manufacturers, ATM networks, owners and manufacturers, card companies and others. When EFTA meets with legislators or regulators they can be assured that EFTA’s position has been vetted across multiple industry segments. This non-parochial approach gives EFTA a credibility and objectivity that legislators and regulators need and appreciate. Executive Agencies and regulators facing contentious issues often seek out EFTA because of our reputation for objectivity.
Much of EFTA’s work with legislative and regulatory staff is carried out through three working groups within the Association. The Legislative and Regulatory Council focuses on the business and consumer implications of laws and rules covering electronic payments. The eGovernment Payments Council focuses on EBT and the use of electronic technology for various government payments like unemployment insurance and welfare benefits. The ePayment and Innovation Council provides an open forum for the sharing and exchange of information on the latest developments in product innovation and emerging technologies in the financial service industry.