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Way to pay for European business journal (3)

Ross

I believe the answer is:

eft

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'business journal' is the definition.
Although both the answer and definition are singular nouns, I cannot see how they can define each other.

'way to pay for european' is the wordplay.
'way to pay' becomes 'ft' (I am not sure about this - if you are sure you should give a lot more credence to this answer).
'for' says to put letters next to each other (I've seen this in other clues).
'european' becomes 'E' (abbreviation e.g. EU).
'ft' after 'e' is 'EFT'.

Can you help me to learn more?

(Other definitions for eft that I've seen before include "Swimmer with feeble legs" , "Young newt" , "Newt (archaic)" , "Pond creature" , "Little creature" .)

I've seen this clue in The Irish Times.
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