Which payment mechanism allows organisations to make payments to, and receive payments from, large groups?
A)Direct entries.
B)Credit and debit cards.
C)EFTPOS.
D)Cheques.
E)All of these.

Question

Quizplus · Accepted Answer

Direct entries, also known as direct debits or direct credits, are electronic payment mechanisms that allow organizations to make and receive payments from large groups. They are commonly used for regular payments such as payroll, bills, and subscriptions. Credit and debit cards are more suitable for individual transactions, EFTPOS is specific to point-of-sale transactions, and cheques are becoming less common as an electronic alternative.

Which Payment Mechanism Allows Organisations to Make Payments To, and Receive