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Payment Industry Vocabulary

Authored by Simone Prado

English

Professional Development

Payment Industry Vocabulary
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8 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Situation: A client is unsure about different payment methods.

Question: What does a 'Payment Gateway' primarily do?

Manages customer service

Secures and facilitates online payment transactions

Provides loans to businesses

Tracks inventory

2.

MATCH QUESTION

1 min • 1 pt

Match the following

An online platform for buying, selling

Encryption

A bank account that allows businesses to

E-commerce

A method to protect data

Chargeback

A refund requested by a customer

Merchant Account

3.

CATEGORIZE QUESTION

3 mins • 1 pt

Organize these options into the right categories

Groups:

(a) Security Measures

,

(b) Payment Processing

Payment Settlement

SSL Certificates

Fraud Monitoring

Authorizing Transactions

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Situation: A client asks about how to protect their customer data.

Question: What is the purpose of 'Tokenization' in payment processing?

To increase transaction speed

To replace sensitive data with non-sensitive equivalents

To generate financial reports

To reduce transaction fees

5.

DROPDOWN QUESTION

1 min • 1 pt

Situation: Advising on the integration of a new payment system.

Question: Integrating multiple payment options on a single platform makes the checkout process more ​ (a)   .

flexible
restricted
uniform

6.

MATCH QUESTION

1 min • 1 pt

Match the following

3D Secure

Ensures a secure environment for cardholder data

PCI Compliance

Adds an extra layer of security during online transactions

Biometric Verification

Uses physical traits like fingerprints to confirm identity

7.

CATEGORIZE QUESTION

3 mins • 1 pt

Organize these options into the right categories

Groups:

(a) Customer Convenience

,

(b) Technical Requirements

High server uptime

One-click shopping

Responsive design

Multi-currency support

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