E-Payments Quiz

What is the main idea of the first paragraph?

• Ways to set up an e-money account

• Reasons why people avoid shopping online

• The benefits of using credit or debit cards online

• The risks associated with e-payment accounts

• An alternative payment option to credit/debit cards for online transactions

What issue is mentioned regarding the safety of credit or debit card details online?

• People may be worried about sharing their card details online

• Online transactions using e-payment accounts are not safe

• Credit card details may be leaked during transactions

• E-money accounts are secure but credit cards are not

• Hackers can easily steal debit card information

Why might e-payment users be at risk of losing money in some cases?

• Users cannot withdraw their balance

• Every transaction is at risk of being hacked

• E-payment providers lack FSCS protection

• E-payment companies often make errors in calculations

• E-payment accounts charge high fees on every transaction

What is the author's purpose in explaining the features and risks of e-payment accounts?

• To advertise a specific e-payment provider

• To discourage people from using credit cards

• To outline government regulations on e-payments

• To explain banking services in detail

• To inform users about the pros and cons of using e-payments

What can be inferred about the popularity of e-payments compared to traditional payment methods?

• Traditional methods are generally safer

• E-payments are becoming outdated

• Few people use e-payments

• E-payments are increasingly popular due to convenience

• Only tech-savvy people use e-payments

In the phrase, "These companies make their money by charging retailers," what does "These companies" refer to?

• Financial institutions

• Credit card companies

• E-payment companies

• Debit card issuers

• Retailers

Which of the following is a synonym for "option" in "There is another option"?

• Requirement

• Choice

• Result

• Regulation

• Complication

Why might some people prefer e-payment accounts over traditional credit or debit cards for online transactions?

• E-payment accounts offer higher spending limits

• E-payment accounts reduce the need to share sensitive card details

• E-payment accounts are insured by FSCS

• E-payment accounts provide physical cards for in-store use

• E-payment accounts require no verification

Why does the author suggest checking the "service" and "protection" an e-payment company offers?

• To ensure that users know about international transaction limits

• To help users avoid unexpected fees in foreign currencies

• To reduce the risk of losing funds if the company goes out of business

• To verify that the company has no transaction charges

• To confirm that users can withdraw cash from any ATM

What are the two main ways mentioned in the text for using an e-payment account?

• Linking it to a social media account or a bank

• Paying directly with cash or transferring from an ATM

• Adding money to the account balance or linking it to a payment card

• Linking it to a mobile wallet or a cryptocurrency account

• Using it only for international transactions