Final answer:
An e-check (option c) is the electronic version of a paper check, offering enhanced security and efficiency for online transactions, reflecting the contemporary move towards fintech and alternative payment methods.
Step-by-step explanation:
A e-check is the electronic version of a paper check and offers security, speed, and convenience for online transactions. An e-check, much like a paper check, is an instruction to the user's bank to transfer money directly and immediately from your bank account to the seller. In contrast to a paper check, however, an e-check is processed electronically, which enhances the speed of the transaction. This form of payment is part of a broader shift towards more abstract forms of payment, reflecting the recent trends in financial technology, also known as fintech.
Digital wallets and electronic fund transfers similarly offer the ability to conduct transactions online, but they are broader in function compared to e-checks. Cryptocurrencies like bitcoin represent an even more significant departure from traditional currency, being completely digital and decentralized, their value driven by market forces such as supply and demand rather than government regulation.
As payment systems evolve, they not only change how we think about money but also influence the infrastructure of our economy, impacting how goods and services are exchanged for financial assets.