Final answer:
Companies use electronic funds transfer systems because it saves time and reduces errors, making financial transactions more efficient and secure compared to traditional methods. option d is answer
Step-by-step explanation:
More and more companies are now using electronic funds transfer systems to pay and collect bills online primarily because it saves time and reduces errors. Electronic payments bypass many of the traditional obstacles like physical transport of money, risk of loss or theft, and the errors that can come with manual processing.
Banks act as financial intermediaries, which not only facilitates transactions safely and efficiently but also plays a key role in the creation of money.
Banks offer various types of accounts, such as savings and checking accounts, which can earn interest and provide easy access to funds. These banking services reduce the need for cash, minimize transaction costs, and enhance the ease and security of transactions in the economy. This makes electronic payments a standard for modern economies that are complex and require safe and efficient exchange of goods, services, and financial assets. option d is answer