Final answer:
An e-check is the electronic version of a paper check that provides a secure, speedy, and convenient way to conduct online transactions, transferring funds from the payer's bank to the recipient.
Step-by-step explanation:
An e-check is the electronic version of a paper check and offers security, speed, and convenience for online transactions. Unlike a paper wallet, which is a physical piece of paper containing keys and QR codes used in cryptocurrency transactions, an e-check functions in a similar way to a traditional paper check. It is an instruction to the user's bank to transfer money directly and immediately from your bank account to the seller.
However, it differs from a debit card, which facilitates immediate transactions directly from your bank account when making purchases. An e-check is the electronic version of a paper check and offers security, speed, and convenience for online transactions.
It is a digital representation of a traditional check that can be used to make payments online. When making a purchase using an e-check, the necessary information is inputted online, and the funds are electronically transferred from the buyer's bank account to the seller's account.
Therefore the correct answer is 2) e-check.