Benefits of Fintech Services in the Financial Sector

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Which of the following is NOT a benefit of tokenization in the context of online transactions?

Enables merchants to store customers' complete card details securely

Which of the following statements about tokenization is true?

Each token is unique to a specific card and merchant combination

How does tokenization contribute to financial inclusion in India?

It provides a secure and convenient way for customers to make online transactions

Which of the following statements best describes the impact of fintech on the Indian financial services sector?

<p>It has fueled growth and innovation, driven by favorable policies and regulations</p> Signup and view all the answers

How can tokenization contribute to cost reduction for financial service providers?

<p>By reducing the costs associated with fraud and data breaches</p> Signup and view all the answers

Which of the following statements about tokenization is FALSE?

<p>It enables merchants to store tokenized data indefinitely</p> Signup and view all the answers

How can tokenization enhance the speed and efficiency of online transactions?

<p>By reducing the time required for manual data entry and verification</p> Signup and view all the answers

Which aspect of tokenization contributes to personalized customer service in the financial services sector?

<p>It allows customers to securely store multiple payment methods for easy access</p> Signup and view all the answers

Which of the following statements about tokenization and fintech in India is TRUE?

<p>India's fintech sector has embraced tokenization as a way to enhance security and convenience</p> Signup and view all the answers

How can tokenization contribute to the enhancement of personalized customer service in the financial services sector?

<p>By allowing customers to securely store multiple payment methods for easy access</p> Signup and view all the answers

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