Main Topic 3 FM412

What is Electronic Banking also known as?

• Cryptocurrency Banking

• Digital Walleting

• Internet Banking

• Mobile Banking

Which of the following is a benefit of Digital Payment Systems?

• Increased physical visits to banks

• High transaction fees

• Instant mobile payments

• Limited payment options

What was introduced in the 1960s-1970s that marked the beginning of electronic banking?

• Automated Teller Machine (ATM)

• Mobile Banking

• Online Banking

• Digital Wallets

Which type of digital payment allows users to store payment information securely?

• Digital Wallets

• Cryptocurrency Payments

• Peer-to-Peer Payments

• Internet Banking Portals

What is a disadvantage of Electronic Banking?

• Cybersecurity Risks

• Speed and Efficiency

• Enhanced Record Keeping

• Convenience

What type of payment system enables direct transfers between users?

• Internet Banking Portals

• Digital Wallets

• Peer-to-Peer (P2P) Payment Systems

• Contactless Payments

What is one of the main applications of E-Banking in Global Finance?

• Increased cash transactions

• Real-time transactions

• Physical bank visits

• Manual tracking of finances

Which of the following is NOT a type of Digital Payment?

• Mobile Banking Apps

• Digital Wallets

• Cryptocurrency Payments

• Cash Transactions

What has transformed the banking industry since the 2010s?

• Online Banking

• Physical Banking

• Financial Technology (Fintech)

• Automated Teller Machines

What is a key feature of Mobile Banking Apps?

• Ability to check balances and transfer funds

• Limited access to accounts

• Only available on computers

• Requires physical bank visits