Exam 11: Payment Systems for Electronic Commerce

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 _____ handles chargebacks and any other reconciliation items.

Digital cash can be easily traced back to its origin.

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

_____ allows for contactless data transmission over short distances and can also be used if a smartphone is equipped with a chip similar to those that have been used on payment cards for a number of years.

A _____ can be used as a hardware-based digital wallet.

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

Credit cards provide assurances for both the consumer and the merchant.

_____ can be accomplished by purchasing goods or services with ill-gotten electronic cash and selling them for physical cash on the open market.

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

Internet payments for items costing from a few cents to approximately a dollar are called _____.

A _________ is a stored-value card with an embedded microchip that can store information.

A two-part lock provides anonymous security but signals when someone is attempting to double spend cash.

_____ is a criminal act in which the perpetrator gathers personal information about a victim and then uses that information to obtain credit.

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

Concerns about digital cash methods include privacy and security, independence, portability, and convenience.

More than 80% of B2C online payments in the United State are made using credit or debit cards.

In an online storage system, the merchant must contact the consumer's bank to receive payment for a purchase.

Anonymous digital cash is digital cash that cannot be:

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.