Electronic funds transfer systems:
A) Handle most forms of electronic payment in the banking and retailing industries
B) Use a variety of information technologies to capture and process money and credit transfers between banks, business, and customers
C) Make it possible for consumers to use a credit or debit card to instantly pay for purchases at retail outlets
D) All of the choices are correct.

Question

Quizplus · Accepted Answer

All of the choices are correct. Electronic funds transfer systems handle most forms of electronic payment in the banking and retailing industries. It uses a variety of information technologies to capture and process money and credit transfers between banks, business, and customers. Also, it makes it possible for consumers to use a credit or debit card to instantly pay for purchases at retail outlets.

Electronic Funds Transfer Systems