DMA = Direct Memory Access
Basically the ability of a device to access primary memory directly without the host CPU being used in the transaction.
It's a bit more involved than that but that is good enough in lay man's terms.
Before DMA was introduced the CPU would have to stop what it was doing to handle data transfers between devices and primary memory.
DMA allows the CPU to carry on with it's tasks while data is being moved between primary memory (RAM) and system devices.
The CPU is involved a little bit to set up the DMA transfer.
In my opinion the term DMA is actually used incorrectly when it comes to storage devices since it has bugger all to do with primary memory but I guess it was a buzzword that most people equated to "speed" so it makes a little bit of sense.
* CompactFlash Revision 1.0 (1995), 8.3 MB/s (PIO mode 2)
* CompactFlash+ aka CompactFlash I/O (1997)
* CF+ and CompactFlash Revision 2.0 (2003) added an increase in speed to 16.6 MB/s data-transfer (PIO mode 4). At the end of 2003, DMA 33 transfers were added as well, available since mid 2004.
* CF+ and CompactFlash Revision 3.0 (2004) added support for up to a 66 MB/s data transfer rate (UDMA 66), 25 MB/s in PC Card mode, added password protection, along with a number of other features. CFA recommends usage of the FAT32 filesystem for storage cards larger than 2 GiB.
* CF+ and CompactFlash Revision 4.0 (2006) added support for IDE Ultra DMA Mode 6 for a maximum data transfer rate of 133 MB/s (UDMA 133).
* CF+ and CompactFlash Revision 4.1 (2007) added support for Power Enhanced CF Storage Cards.
* CompactFlash Revision 5.0 (2010) added a number of features, including 48-bit addressing (supporting 128 Petabyte of storage), larger block transfers of up to 32 Megabytes, quality-of-service and video performance guarantees, and other enhancements [22]
* CompactFlash Revision 6.0 (November 2010) added UltraDMA Mode 7 (167MB/s), ATA-8/ACS-2 sanitize command, TRIM and an optional card capability to report the operating temperature range of the card.
Source:
http://en.wikipedia.org/wiki/CompactFlash