A System for Electronic Funds Transfers (EFT) in Which Machines

question 8

Multiple Choice

A system for electronic funds transfers (EFT) in which machines are located in a merchant's store and are activated by the consumer's identification card and code is:

• A) POS.
• B) RAM.
• C) EFTA.
• D) DOS.

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Definitions:

Text Messages

Short electronic messages sent over a phone network, commonly used for personal communication and increasingly for marketing purposes.

Direct Marketing

A type of advertising strategy that seeks to deliver a message directly to consumers, through methods such as mail, email, or phone calls, without intermediaries.

Customer Databases

Collections of information about customers, including their contact details, buying habits, and preferences, which companies use to manage customer relationships effectively.

Marginal Costs

The extra expense associated with the production of an additional unit of a product or service.