Building an Eectronic Fund Transfer (EFT) mobile App, need clarification

This question doesn't pertain to building the app itself, because that will be handled by a programming company. My question pertains to the EFT protocol itself. Is there a general protocol for programmers to follow to securely complete an EFT transaction, or do I have to build a direct relationship with 开发者_开发百科each banking institution to get this service going?

I have tried to research this topic but I seriously don't know where to start, or what to search for on Google. The project is at its research phase. Any insight is greatly appreciated.

I've been working in the Financial Industry for many years and I am not aware of a standard EFT protocol. There are established formats that the data must conform to for transmission from institution to institution. With that being said, every institution has slight differences that they require for their back end systems.

My advice is to build a relationship with a EFT clearing house. This way you will only have to write an interface to the clearing house and let them deal with the actual EFT transfer.

Depending on the nature of EFT app you are developing, you might be interested in knowing more about ISO8583, IFX as well as FIX protocols.

ISO8583 is used by a huge percentage of card based transactions, e.g., those occurring on ATM's or via VISA, Mastercard, etc.

IFX is a relatively newer standard. As far as I know the adaption has been slow.

FIX is more suitable to commodity trading (as in stock exchanges).