E-payment Quiz: How Much You Know About E-payment?
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Take this E-payment quiz today to learn how much you know about E-payment! Electronic payment is a mode of conducting transactions that does not require the use of cash. Over time, there have been several different aspects of it, and the questions that are given below cover myriad topics regarding the subject. Answer all the questions, and you will receive a result based on your knowledge about E-payments. Enjoy, and all the best.
- 1.
For international business, e-payment should be thought of around two axes. Which ones are those?
- A.
Quality and Customer
- B.
Customer and Security
- C.
Security and Quality
- D.
X-axis and Y-axis
Correct Answer
A. Quality and CustomerExplanation
For international business, e-payment should be thought of around two axes: Quality and Customer. This means that when considering e-payment solutions for international transactions, businesses should prioritize both the quality of the payment system, ensuring it is efficient, reliable, and user-friendly, as well as the customer experience, ensuring that the payment process is convenient and meets customer expectations. By focusing on these two axes, businesses can ensure that their e-payment solutions are effective and meet the needs of both the business and its customers.Rate this question:
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- 2.
Which of the following isn't a procedure used by companies to verify the purchase forms?
- A.
Card Verification Number (CVN)
- B.
Address Verification System (AVS)
- C.
Digital Signature System (DSS)
- D.
One Time Password System(OTP)
Correct Answer
C. Digital Signature System (DSS)Explanation
The Digital Signature System (DSS) is not a procedure used by companies to verify purchase forms. The other three options, Card Verification Number (CVN), Address Verification System (AVS), and One Time Password System (OTP), are commonly used methods to verify the authenticity of purchase forms. DSS, on the other hand, is a cryptographic technique used to ensure the integrity and authenticity of digital documents, but it is not specifically used for verifying purchase forms.Rate this question:
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- 3.
What can you do with MBnet service?
- A.
Create a virtual debit card.
- B.
Open a new bank account.
- C.
Order a new credit card.
- D.
Take a loan.
Correct Answer
A. Create a virtual debit card.Explanation
With the MBnet service, you can create a virtual debit card. This allows you to make online purchases securely without revealing your actual credit card information. It provides an added layer of protection against fraud and unauthorized transactions. By generating a virtual card number, you can enjoy the convenience of online shopping while keeping your financial details safe.Rate this question:
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- 4.
Which one of the following is not a Digital Wallet?
- A.
Google Wallet
- B.
MFerio
- C.
IGS Wallet
- D.
Lemon Wallet
Correct Answer
C. IGS WalletExplanation
IGS Wallet is not a digital wallet because it does not exist or is not a recognized digital wallet in the market. There is no information or evidence to suggest that IGS Wallet is a legitimate digital wallet option.Rate this question:
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- 5.
What is Digital checking?
- A.
An online commercial payment platform
- B.
An electronic variation of the paper check
- C.
Exploration software for payment checking
- D.
Security system for checks
Correct Answer
B. An electronic variation of the paper checkExplanation
Digital checking refers to an electronic version of a traditional paper check. It allows individuals and businesses to make payments online without the need for physical checks. This method of payment is convenient, efficient, and reduces the risk of errors or delays associated with traditional paper checks. With digital checking, users can input the necessary payment information electronically and authorize the transfer of funds, making it a modern and secure alternative to traditional check payments.Rate this question:
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- 6.
What is e-payment?
- A.
Electronic payment for buying and selling
- B.
Payment of online software
- C.
Payment of online services
- D.
Payment of electronics
Correct Answer
A. Electronic payment for buying and sellingExplanation
E-payment refers to the process of making electronic transactions for buying and selling goods or services. It involves using electronic devices such as computers or smartphones to transfer funds from one party to another. This method eliminates the need for physical cash or checks and provides a convenient and secure way to make payments online.Rate this question:
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- 7.
What is the main driver of electronic payment growth?
- A.
Consumer demand for new methods
- B.
Government regulation
- C.
Technological development
- D.
Market demand
Correct Answer
C. Technological developmentExplanation
Technological development is the main driver of electronic payment growth because advancements in technology have made it easier and more convenient for consumers to make electronic payments. The development of secure online payment systems, mobile payment apps, and contactless payment methods have all contributed to the growth of electronic payments. Additionally, technological advancements have also improved the speed and efficiency of electronic payment processing, making it a preferred method of payment for many consumers and businesses.Rate this question:
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- 8.
What are the main concerns about electronic payment?
- A.
Privacy and security
- B.
Privacy and charged fees
- C.
Security and charged fees
- D.
Limited acceptance
Correct Answer
A. Privacy and securityExplanation
The main concerns about electronic payment are privacy and security. Electronic payment systems involve the exchange of personal and financial information, which raises concerns about the privacy and protection of this sensitive data. Users worry about the potential for their information to be intercepted or misused during transactions. Additionally, there are concerns about the security measures implemented by payment platforms to safeguard against fraud and unauthorized access to accounts. Both privacy and security are crucial factors that users consider when deciding whether to adopt electronic payment methods.Rate this question:
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- 9.
What is Bitcoin?
- A.
An online payment blog
- B.
First decentralized digital currency
- C.
A mobile app for online shopping
- D.
Game token
Correct Answer
B. First decentralized digital currencyExplanation
Bitcoin is considered the first decentralized digital currency because it operates without a central authority or government. It is a form of digital money that can be sent and received through a peer-to-peer network, allowing for secure and anonymous transactions. Bitcoin's decentralized nature means that it is not controlled or regulated by any single entity, making it a unique and revolutionary form of currency in the digital age.Rate this question:
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- 10.
Which of the following is not an advantage of using bitcoins?
- A.
Low transfer fee
- B.
Your account can't be frozen.
- C.
You can cash out in another currency.
- D.
Anonymized payments
Correct Answer
C. You can cash out in another currency.Explanation
An advantage of using bitcoins is that you can cash out in another currency. This means that you have the flexibility to convert your bitcoins into a different currency if needed. However, the given answer states that "You can cash out in another currency" is not an advantage of using bitcoins.Rate this question:
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- 11.
Which of the following companies offers versatile micropayment solutions in Portugal nowadays?
- A.
Easypay
- B.
Payone
- C.
MBill
- D.
PayPal
Correct Answer
A. EasypayExplanation
Easypay is the correct answer because it is a company that offers versatile micropayment solutions in Portugal. The other options, Payone, mBill, and PayPal, may offer micropayment solutions in other countries, but they do not specifically mention offering these solutions in Portugal. Therefore, Easypay is the most suitable option for the given question.Rate this question:
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- 12.
How much a single Bitcoin was worth at the beginning of 2015?
- A.
157$
- B.
269$
- C.
357$
- D.
315$
Correct Answer
D. 315$Explanation
At the beginning of 2015, the value of a single Bitcoin was 315$. This implies that if someone had bought one Bitcoin at that time, they would have had to pay 315 dollars for it. The value of Bitcoin fluctuates over time due to various factors such as demand, supply, and market conditions.Rate this question:
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- 13.
Which of the following is not an example of mobile payment?
- A.
NFC
- B.
PaySafeCard
- C.
PayGol
- D.
Boku
Correct Answer
B. PaySafeCardExplanation
PaySafeCard is not an example of mobile payment because it is a prepaid card that can be used for online transactions, but it does not require a mobile device to complete the payment. NFC, PayGol, and Boku are all examples of mobile payment methods that utilize mobile devices for transactions.Rate this question:
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