Which of the Following Wholesale Services Offered by FI's to Businesses

question 1

Multiple Choice

Which of the following wholesale services offered by FI's to businesses allows the FI to combine the email capabilities of the internet with the FI's ability to process payments electronically through the interbank payment networks?

• A)electronic data exchange
• B)ecommerce facilitation
• C)electronic billing
• D)electronic funds transfer

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Definitions:

Fraud in the Inducement

A deceitful practice to mislead someone into entering a contract, undermining the agreement's legitimacy.

Indorsers

Individuals or entities that sign the back of a negotiable instrument, such as a cheque or a promissory note, thereby endorsing it to another party.

Dishonor

To refuse to accept or pay a negotiable instrument when it is presented.

Drawee

The party named in a draft who is ordered to pay the money to the payee.