A system and method of using Electronic Funds Transfer (EFT) to complete payment for goods and services. An example method of operating a transaction terminal includes identifying items selected by a customer for purchase, determining a required payment amount for the items, obtaining identification information from the customer, obtaining contact information and payment information, including bank account information and bank routing number information, from a customer profile associated with the identification information, creating a check image, sending a request for payment message providing access to the check image and the payment information to a mobile communication device of the customer using the contact information in the customer profile, and receiving a reply message from the mobile communication device authorizing payment for the items via electronic funds transfer and including a 2D barcode containing the check image and the payment information.