They seems fundamentally the same. Some say electronic cash is the newer version of EFT and is better for B2C while EFT is for internal payment.
Should I use both services?
Electronic Funds Transfer Systems (EFTS) allow for all forms of financial transactions over the Internet, both private and public. For example, when a company transfers money from its bank account to the payroll account and then to the individual banks of its employees it is doing EFTS.
Under the heading of e-business both CyberCash and EFTS fall.
This was first published in February 2005