Exam 11: Payment Systems for Electronic Commerce

A(n) _____, serving a function similar to a physical wallet, holds credit card numbers, electronic cash, owner identification, and other owner contact information.

Typically, server-side digital wallets store a customer's information on the customer's computer.

In an online cash storage system, a trusted third party, such as an online bank, coordinates all transfers of digital cash and holds the consumers' cash accounts.

Visa and MasterCard are _____ that are operated by the banks which issue credit cards to individual customers.

What are the advantages and disadvantages of payment cards?

_____ is spending a particular piece of electronic cash twice by submitting the same electronic currency to two different vendors.

In the context of payment acceptance and processing, closed loop systems:

Concerns about electronic payment methods include privacy and security, independence, portability, and convenience.

The term _____ refers to all payments less than $10.

The delay that occurs between the time that a person writes a check and the time that check clears the person's bank is known as _____.

A debit card removes the amount of the sale from the cardholder's bank account and transfers it to the seller's bank account.

Anonymous digital cash is digital cash that cannot be:

Google Wallet, which uses the _____ technology that MasterCard developed for its credit cards, is available for mobile devices.

Whenever additional parties are included in payment card transaction processing, the system is called a(n) _____system.

Businesspeople often use the term _____ as a general term to describe all types of plastic cards that consumers use to make purchases.

Smart cards are safer than magnetic strip credit cards because the information stored on a smart card can be encrypted.

The level of fraud in online transactions is much lower than either in-person or telephone transactions of the same nature.

_____ are created when a hacke r plants zombi e program s o n a larg e numbe r o f computer s.

Online and telephone purchases include a minimal degree of risk for merchants and banks.

The basic structure of a _____ involves a perpetrator who sends e-mail messages to a large number of recipients who might have an account at a targeted Web site.