Automatic electronic funds transfer system and method

A system for automatically conducting a business transaction between a user and a trader including:

• a trader terminal including billing information representative of said trader;
• a user terminal;
• a local communications link provided between said user terminal and said trader terminal;
• wherein an order for goods and/or services of the trader is initiated by transmitting a data request for billing information over said link, using a message protocol, from said user terminal to be received by said trader terminal;
• said user terminal receiving and processing user information representative of said user, and receiving and processing said billing information via said link in response to said request;
• and
• a communications network having links independent of the local communication link enabling said user terminal to communicate with a service provider;
• wherein said user terminal transmits said billing information and said user information to said service provider as the order over said communications network, whereupon said service provider automatically facilitates transfers funds of said user to said trader under the authorization of said user to effect a financial transaction between said user and said trader and ordering of the goods and/or services.