E-payment 123

The earliest mode of payment was through barter trading.

• True

• False

Which of the following is false about currency ?

• An accepted form of money

• Can be in forms of salt, metal, paper etc

• Issued by a government

• Current form of currency is Crypto

The era which saw the rise of credit cards used at stores was in the _____.

• 1950s

• 1960s

• 1970s

• 1980s

Early computers in the 1950s were table-sized.

• True

• False

The internet was created in which era ?

• 1950s

• 1960s - 1970s

• 1980s - 1990s

• 2000s

Which of the following is not an disadvantage of cheque payment ?

• Cheques are worthless if the drawer has no funds in his/her account.

• Cheques are not suitable for amounts that are too large.

• Depositing cheques into an account is tine consuming.

• Bank charges are levied on cheque books.

An acquiring bank processes credit or debit card payments on behalf of a consumer.

• True.

• False

If a consumer pays $500 to a merchant by credit card , the merchant will receive the full amount within 30 days.

• True

• False

Please select all future payment trends. (can be more than 1 option)

• Social Media Commerce

• QR Code Payments

• Facial Recognition

• P2P Payments

The purpose of credit card authorization is to validate the availability of funds.

• True

• False