Exam 11: Payment Systems for Electronic Commerce

Most stored-value cards incorporate__________ technology which allows for contactless data transmission over short distances so the computer processor in the microchip con interact with readers and other devices.

A (n)_____ is a three- or four-digit number printed on a credit card, and is required for card not present transactions.

Prepaid cards sold with the intention that they be given as presents are called _____.

Using digital cash provides an audit trail.

To process payment cards for Internet transactions, an online merchant must set up a(n) _____ with an acquiring bank.

The Check Clearing for the 21st Century Act permits banks to eliminate the movement of physical checks entirely.

Digital wallet is similar to physical money that kept in a wallet.

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

Processing a payment card transaction online involves two general processes.Describe these processes.

In phishing, _____ use the collected information.

Google Wallet, Microsoft Windows Live ID, and Yahoo! Wallet are examples of _____ digital wallets.

When a cardholder successfully contests a charge, the acquiring bank must retrieve the money it placed in the merchant account in a process called a _____.

A _____ stores information on a customer's computer.

Charge cards involve lines of credit and accumulate interest charges.

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

How are phishing attacks used for identity theft?

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

Near field communication chips embedded in mobile phones are called Osaifu-Keitai in Japan, which translates approximately to _____.

A _____ obtains authorization for a payment card transaction by sending the transaction's details to the interchange network and storing a record of the approval or denial.

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.