Electronic Commerce Payment Systems Quiz

What is a payment card?

• An electronic card for payment purposes

• A card used for identification

• A card that stores personal information

• A card that can only be used offline

Which of the following is NOT a type of payment card?

• Credit card

• Charge card

• Debit card

• Gift card

What does authorization determine in online payment processing?

• Whether the buyer's card is active

• The merchant's profit margin

• The shipping cost

• The total amount of the transaction

What is settlement in the context of online payments?

• The final step in product delivery

• Transferring money from buyer to merchant

• The process of issuing refunds

• The process of verifying the buyer's identity

What is a payment service provider (PSP)?

• A system for tracking customer behavior

• A software for managing inventory

• A third-party service connecting merchants to banks

• A type of credit card

What does the Address Verification System (AVS) do?

• Compares the entered address with the bank's records

• Confirms the buyer's email address

• Checks the transaction history

• Validates the merchant's registration

What is a smart card?

• An electronic card with an embedded microchip

• A card that requires a signature for every transaction

• A card that can only be used in physical stores

• A card that cannot be recharged

What is a contact card?

• A card that does not require a PIN

• A smart card that makes contact with a reader

• A card that is not rechargeable

• A card that can only be used online

What is a stored-value card?

• A card with monetary value loaded onto it

• A card that has no monetary value

• A card that can only be used once

• A card that is only used for online purchases

What is an e-check?

• An electronic version of a paper check

• A physical check sent via email

• A method of cash payment

• A type of credit card