Match the term and definition

Match the term and definition

MULTIPLE CHOICE…..!!!!

Question 1

 

1. Payment card service companies charge merchants per-transaction fees and monthly processing fees

 

True

 

False

 

QUESTION 2

 

1.  Electronic cash can be traced back to the person who spent it.

 

True

 

False

 

QUESTION 3

 

please put  a 1 ,2, or 3 to tell what order they go in….

 

1.  Steps followed once a merchant receives a consumer’s payment card information:

 

Merchant authenticates payment card

 

 

Merchant checks with payment card issuer

 

 

Settlement of balance with the issuer

 

 

QUESTION 4

 

1.  Which is not a disadvantages of electronic cash

 

A. No audit trail
B. Money laundering and fraud
C. Transactions are more efficient
D. Susceptible to forgery

 

QUESTION 5

 

1.  Electronic Cash can not serve as a substitute for government-issued physical currency.

 

True

 

False

 

QUESTION 6

 

1.  Electronic Wallets hold credit card numbers, electronic cash, owner identification, and contact information.

 

True

 

False

 

QUESTION 7

 

1.  Match the term and definition

 

Card issuer pays the merchants that accept the card directly and does not use an intermediary
Involve three or more parties (e.g., systems using Visa or MasterCard)
A. Open loop systems
B. Closed loop systems

 

QUESTION 8

 

1.  One advantage of electronic cash is that it costs less than processing credit card transactions.

 

True

 

False