Quiz on Cashless Payment Methods

What is a primary benefit of cashless transactions?

• Limited payment options

• Increased cash management costs

• Instantaneous access to cash holdings

• Higher crime rates

Which of the following is NOT mentioned as a cashless payment service?

• Western Union

• PayPal

• Q-ris

• Virtual Account

What do proponents of cashless payments argue?

• It is less convenient than cash

• It can lower crime rates

• It is always accepted everywhere

• It leads to higher spending

What is one argument against cashless payments?

• They reduce transaction tracking

• They are more secure than cash

• They can lead to overspending

• They are universally accepted

According to the text, what can digital transactions harm?

• Customer trust

• Transaction speed

• Privacy

• Convenience

What is a potential risk of being cashless mentioned in the text?

• Higher transaction fees

• Increased physical theft

• Loss of cash management skills

• Exposure to hackers

What do businesses benefit from when consumers use cashless payments?

• Processing fees

• Lower processing fees

• Higher cash handling costs

• Increased transaction complexity

What is a significant advantage of cash mentioned in the text?

• It is easier to track

• It is more convenient

• It reduces crime rates

• It is always accepted

What psychological effect is associated with cashless spending?

• Increased financial literacy

• Decreased anxiety

• Overspending due to lack of visibility

• Improved budgeting skills

What is one of the costs associated with cash management?

• It requires no resources

• It is more efficient

• It is free

• It costs money