Final answer:
EFT and ACH are the two payment types that can only be used to pay vendors.
Step-by-step explanation:
The two payment types that can only be used to pay vendors are EFT (Electronic Funds Transfer) and ACH (Automated Clearing House). The two payment types that can generally only be used to pay vendors are EFT (Electronic Funds Transfer) and ACH (Automated Clearing House). These electronic payment methods are typically employed in business-to-business transactions because they are efficient, secure, and can handle large volume payments. Credit Cards and Electronic Payments can be used in a wider range of contexts, including consumer transactions, and are not exclusive to vendor payments.
EFT refers to the electronic transfer of money from one bank account to another. It is commonly used for large transactions and is a secure and efficient payment method.
ACH is a network that facilitates electronic payments in the United States. It enables the transfer of funds between different bank accounts using direct deposit, check conversion, and other electronic transactions.