Which term describes sending money from one person's electronic wallet to another?

Which term describes sending money from one person's electronic wallet to another?

• A. Telebanking
• B. M-Money
• C. Electronic Transfer
• D. Commodity

Answer: (C)

Transferring money between electronic wallets is an electronic transfer. This describes moving funds electronically from one digital wallet to another without cash or in-person exchange, using networks or payment processors to carry the payment instruction and settle the funds. It’s faster and traceable compared with traditional methods, and it specifically covers wallet-to-wallet movement. Telebanking involves accessing a bank’s services by phone, not transferring between wallets. The term M-Money isn’t a standard formal label for this process, and a commodity is a tangible good, unrelated to moving money between wallets.

Transferring money between electronic wallets is an electronic transfer. This describes moving funds electronically from one digital wallet to another without cash or in-person exchange, using networks or payment processors to carry the payment instruction and settle the funds. It’s faster and traceable compared with traditional methods, and it specifically covers wallet-to-wallet movement.

Telebanking involves accessing a bank’s services by phone, not transferring between wallets. The term M-Money isn’t a standard formal label for this process, and a commodity is a tangible good, unrelated to moving money between wallets.