The ways in which funds are transferred to make payments is called the

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The term "payment mechanism" refers to the ways in which funds are transferred to make payments, such as through electronic transfers, credit cards, or checks. Monetary policy, lender of last resort actions, and open market operations are all related to the actions and policies of central banks regarding the supply and management of money, but do not specifically refer to the methods of payment.

The Ways in Which Funds Are Transferred to Make Payments