The concept of electronic cash is to execute payment by which method?

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Multiple Choice

The concept of electronic cash is to execute payment by which method?

Electronic cash means money that exists and is transferred in digital form over a network, allowing payments to be made without physical instruments. The best description is paying by using computers over a network, because it captures the idea of transferring digital funds or tokens electronically rather than with cards, cash withdrawals, or paper documents. A credit card involves a physical card and the card network’s authorization; an ATM card similarly relies on card-present infrastructure; a cheque is a paper instruction to a bank. None of those represent the digital, network-based transfer at the heart of electronic cash.

Electronic cash means money that exists and is transferred in digital form over a network, allowing payments to be made without physical instruments. The best description is paying by using computers over a network, because it captures the idea of transferring digital funds or tokens electronically rather than with cards, cash withdrawals, or paper documents. A credit card involves a physical card and the card network’s authorization; an ATM card similarly relies on card-present infrastructure; a cheque is a paper instruction to a bank. None of those represent the digital, network-based transfer at the heart of electronic cash.

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