multiple choice 9

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