There appears to be a fine shade of meaning between the words 'transfer' and 'transit' in the domain of airports and train stations, possibly sea ports as well.
Consider this typical usage fragment...
I'm flying from Colombia to Munich with transfer in Atlanta. The transit time is 3h and 58m. The flight is on Sunday and Atlanta, indeed, is the airport with the heaviest passenger transit in the world...
Also, sometimes you also see text referring to 'transfer fees', but never 'transit fees'. But alternatively, countries issue 'transit visas', but never 'transfer visas'.
Question: what are the differences between 'transit' and 'transfer' in the overall domain of travel.
Note: The question here is prompted by an effort in Travel to introduce precision into these words as site tags. In addition to authoritative English usage answers, pedantic and/or didactic answers that clarify these terms are also welcomed.