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IFLY is probably what it was.
Answer:
D. Electronic Funds Transfer (EFT)
Explanation:
e-commerce is a short for electronic commerce and it can be defined as a marketing strategy that deals with meeting the needs of consumers, by selling products or services to the consumers over the internet.
This ultimately implies that, e-commerce is strictly based on the buying and selling of goods or services electronically, over the internet or through a digital platform. Also, the payment for such goods or services are typically done over the internet such as online payment services.
A payment gateway can be defined as a merchant service technology used for the capturing, acceptance and transfer of digital payment from the bank account of a customer (buyer) to the bank account of the merchant (seller). Thus, payment gateway typically involves the use of credit or debit card for the payment of goods purchased or services provided.
In this scenario, you need to pay an Internet Service Provider (ISP) for services rendered. Thus, the payment technology which you would use is Electronic Funds Transfer (EFT).
Answer:
Wire transfer
Explanation:
Wire Transfer also known as remittance under the U.S. law is the electronic transfer of money which is carried out across a network that is run by several banks and money transfer agencies around the globe. With Wire Transfer, people at different parts of the Word can securely send money to individuals at other financial institution in any part of the world.
The following are important points to note about wire transfers:
1. It is an electronic transfer of funds across a network of banks and money transfer agencies around the world.
2. The individual or senders pays a transaction fee at their banks and must provide the receivers details including bank name and account number.
3. Wire transfers can take up to two working days to complete
4. The Office of Foreign Assets monitors and controls international wire payments, to prevent money laudering and funding of illegal activities like terrorism
