Electronic Data Capture (EDC) is used by CHIPS for clearing large-dollar payments.
Correct Answer:
Verified
Q4: ATMs are the most visible form of
Q5: Proprietary ATM systems are increasingly popular.
Q6: One of the major advantages of electronic
Q7: Because of the "unbanked," the U.S. government
Q8: Electronic money is legal tender.
Q10: Seigniorage is a major component of the
Q11: Payments made over CHIPS have "finality."
Q12: Settlement risk involves credit risk, liquidity risk,
Q13: W.I.F.T. is used primarily for communications dealing
Q14: Electronic banking began in the United States
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