Question

1. which of the following is not a financial institution?

a. central banks
b. retail & commercial banks
c. apple pay
d. credit unions

Explanation:

Central banks, retail/commercial banks, and credit unions are all formal financial institutions that offer core financial services like deposits, lending, and monetary management. Apple Pay is a digital payment service that facilitates transactions but does not function as a licensed financial institution providing these core banking services.

Answer:

c. Apple Pay