Question on: JAMB Commerce - 2012
Modern means of payment is greatly facilitated by
A
e-commerce
B
paper money
C
e-banking
D
credit transfer
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Correct Option: C
Modern means of payment are significantly improved by the use of electronic banking (e-banking) systems.
- E-banking provides various payment methods, including online transfers, mobile payments, and other digital financial transactions, which streamline and accelerate the payment processes.
- E-commerce leverages e-banking to facilitate payments, but it is not the direct facilitator of the payment method itself.
- Paper money is a traditional method and is less efficient than modern methods.
- Credit transfer is a specific function facilitated by e-banking.
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