FinTech Payment Systems Pre-Test

Which of the following was the earliest form of payment?

• Credit Cards

• Bartering

• Mobile Payments

• Bank Transfers

What was the primary innovation of the first credit card introduced in 1950?

• Chip technology

• Magnetic stripes

• Universal acceptance across multiple merchants

• Integration with mobile devices

Which of these technologies was crucial to the development of debit and credit card systems?

• Blockchain

• Magnetic stripe

• Biometric authentication

• NFC (Near Field Communication)

The first ATMs were introduced in the 1960s. What was their main purpose?

• Deposit checks

• Withdraw cash without a bank teller

• Provide financial advice

• Transfer funds electronically

Which of the following payment methods became widespread with the rise of e-commerce in the late 1990s?

• Digital wallets

• Checks

• Online credit card payments

• Mobile banking

What does NFC technology, commonly used in mobile payments, stand for?

• Near Future Communication

• Near Field Communication

• Networked Finance Channel

• Non-Friction Contact

Which company pioneered the concept of online payments in 1998?

• Apple

• PayPal

• Visa

• Google

What is the primary function of a digital wallet?

• Store cryptocurrency only

• Manage physical cards securely

• Enable contactless payments and store card information digitally

• Serve as a savings account

Which of the following was one of the first countries to adopt mobile payments on a large scale?

• United States

• China

• Germany

• India

M-Pesa, a mobile payment solution, originated in which country?

• Kenya

• South Africa

• Nigeria

• Ghana