GIRO
\d͡ʒˈa͡ɪɹə͡ʊ], \dʒˈaɪɹəʊ], \dʒ_ˈaɪ_ɹ_əʊ]\
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A system of physical or electronic payment transfers for consumer purchases, used primarily in Europe and Japan. The giro results in a direct transfer of funds from the consumer, payer, or debtor to the seller or creditor without the need for using a BANK account. Giro payments, which are often conducted via local post offices, fulfill the role of the check in the US financial markets.
By Henry Campbell Black
