Question

Choose the correct option for the following:
The payment mechanism typical to e-business

Options

• cash on delivery (CoD)

• cheques

• credit and debit cards

• e-cash

Answer 1

The payment mechanism that is typical to e-business is e-cash. The other payment mechanisms mentioned—CoD, cheques, and credit or debit cards—are used for transactions in traditional modes of business as well as in e-business. However, e-cash payment can be made only in the case of online transactions and cannot be used in traditional modes of business.

Hence, the correct answer is e-cash