Payment methods 5.10.C

What is a disadvantage of using cash as a payment method?

• It is the most widely accepted method of payment.

• It is not safe to carry large amounts due to theft.

• It can be used for online transactions.

• It helps instill spending discipline.

Which of the following is an advantage of using e-payments?

• They involve actual cash.

• Card details may be stolen.

• Transactions are faster and easier to track.

• They are only accepted in a few countries.

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How does a debit card transaction work?

• The purchase amount is borrowed from the bank.

• The purchase amount is deducted directly from your bank account.

• It requires physical cash to be present.

• It encourages a "buy first and pay later" mentality.

What is a potential disadvantage of using a credit card?

• It is easy to carry and widely accepted.

• It can be used for online transactions.

• High interest may be charged if full payment is not made by the due date.

• It helps limit spending to what you have in your account.

Do you know other method of payments?