>> Financial Management
In at least 150 words per answer of question as they are seen below. Make sure all answers are cited properly and plagirizm free as it will be submitted through the special system.
1- Name the three major paper-based payment mechanisms and explain each.
2- Do you think paper payments will disappear in the near future in the United States? Support your opinion.
3- List and define the three major electronic-based payments, giving the usage occasions, advantages, and disadvantages of each
4- What is the objective companies attempt to achieve when managing bank relations?
Word Limit: 850
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Paper based system relates to the Retail payment system in which settlement of an obligation arising from the purchase of goods/services. Paper based payment means a payment made by means of cheque, demand draft, Pay order, warrants, cheques, other negotiable instruments. They are safe enough as say for example a crossed cheque can only be deposited in the payee’s account, even if one loses the cheque the cheque is of no worth to the person who recovers it or the one who has stolen it. The three most commonly used paper based payment mechanism are:Cheques: Cheque is an instrument by which the payer instructs his banker to make a payment to the payee (a specific individual in his account or by way of a bearer cheque)