Final answer:
It is true that EFT includes various forms of electronic payments such as wire transfers, credit and debit card processing, and ACH Network payments. Debit cards permit direct transfers from bank accounts, and credit cards enable electronic borrowing for transactions.
Step-by-step explanation:
The statement that EFT includes wire transfers, credit and debit card processing, as well as payments made via the ACH Network is true. Electronic Funds Transfer (EFT) is a broad term that encompasses various types of electronic payments and transfers.
When using a debit card, for example, funds are directly transferred from the user's bank account to the seller, acting similar to an electronic check. Credit cards, while not directly connected to a bank account, still process transfers electronically by borrowing from the credit card issuer and later reconciling the borrowed amounts. Additionally, EFTs can occur through the ACH Network, which handles bulk transfers such as payroll deposits, direct debits for bills, as well as other merchant payments.