we need a payment system:

Question

Question

Answer 1

Answer #1

1) to avoid carrying cash

2) transact without face to face encounters

3) to reduce the amount of purchasing power that is not in use of any particular time

4) avoid the physical costs of using cash

5)increase the efficiency of the payment system by allowing netting.

answer: all of the above

answered by: Andrew San Andres

Answer 2

Similar Homework Help Questions

Explain why we need payment reform. What do we call the traditional method for paying providers...

Explain why we need payment reform. What do we call the traditional method for paying providers retrospectively and how did that work? What do we call the newer method for paying providers that happens prospectively and how does that work? How do these payment systems create different incentives for providers? What other new payment models are being tested to see if they can improve health care outcomes?
Using an e-commerce platform dictates that said platform demands a payment system that accommodate the remoteness...

Using an e-commerce platform dictates that said platform demands a payment system that accommodate the remoteness of said solution. As such, a remote and non-physical payment system is needed. You need to determine the benefits and drawbacks of using said payment systems, as opposed to using a physical payment method. Additionally, you need to list the different available payment solutions and how each of them fulfills a specific niche. You also need to provide a comparison of the most common...
Why do we need Subcontractor in Software and System Integration process? How does it help to...

Why do we need Subcontractor in Software and System Integration process? How does it help to ensure quality of integrated system? How do we Improve the quality and productivity during the software and system integration process?

“There is a need for regulation of our accounting profession. We cannot afford a system, like...

“There is a need for regulation of our accounting profession. We cannot afford a system, like the present one, that facilitates failure rather than success. Accounting firms have public responsibilities. We have had too many financial and accounting failures…. While there are many facets of our system that need repair, the potential loss of confidence in our accounting firms and the audit process is a burden our capital markets cannot and should not bear” (Harvey Pitt, President of the US...
Why do we need to back up system before penetration testing: Question 13 options: Be able...

Why do we need to back up system before penetration testing: Question 13 options: Be able to restore system after the study Be able to attack the system Be able to obtain user account None of the above
Need help answering! 1. During auscultation and palpation of the cardiovascular system, why do we hear...

Need help answering! 1. During auscultation and palpation of the cardiovascular system, why do we hear 2 heart sounds but only feel 1 pulse? 2. Why can't we listen to one's pulse with a stethoscope, like we can listen to heart sounds?

Why do we need to assume constant viscosity for a flowing fluid system when using the...

Why do we need to assume constant viscosity for a flowing fluid system when using the equations for momentum balances, since viscosity term is already outside the partial differential sign/ function.
we will learn about allocative efficiency, you need to discuss if the current food system is...

we will learn about allocative efficiency, you need to discuss if the current food system is efficient or not. Compare the current market equilibrium in the market for factory farmed products with socially optimal equilibrium. Do you think socially optimal demand and supply should be higher or lower?
What is the payment system to third parties?

What is the payment system to third parties?

I need to know the monthly payment, and balance Find the monthly payment and estimate the...

I need to know the monthly payment, and balance Find the monthly payment and estimate the remaining balance. Assume interest is on the unpaid balance. 4-year computer loan for $2270 at 7.4%; remaining balance after 2 years. The monthly payment is $ (Round to the nearest cent as needed.)