Question

What is online bill payment?

A)a service that provides consumers with credit for bill payments
B)a service that pays bills without consumer verification
C)a service that allows consumers to set up recurring payments
D)a bill-organizing service that banks offer in traditional banking

Answer 1

a service that allows consumers to set up recurring payments is the correct answer. #PLATO4LYFE

Answer 2

Answer: C) a service that allows consumers to set up recurring payments

Explanation:

Online bill payment refers to paying bills with the use of electronic devices such as computers, smartphones, tablets and so on. It is attached to a checking account which makes it possible for funds to be withdrawn electronically for payment of one-time or recurring bills. It makes payments to be made instantly and saves time. It is also referred to as automatic bill payment or electronic bill payment.