Finance Unbox-ED ($) - Grade 3-5 - Session 010 - Quiz 1

Select the statements that are true about payment gateways

• Help merchants or sellers accept payments from debit cards and credit cards
• Make sure that your debit card and credit card details are kept safe and secure
• Both of the above
• None of the above

POS Machine stands for?

• Proof of Sale Machine
• Point of Sale Machine
• Point of Service Machine
• Proof of Service Machine

POS machines are used in online purchases

• True
• False

Payment gateways check if all the card details are correct

• True
• False

Payment gateways take 24 hours to let the merchant know if a transaction is approved

• True
• False