Questions and Answers
Which of the following is NOT mentioned as a form of digital currency in the text?
Cryptocurrencies
What is the function of a stored value card?
To store a set amount of currency for making payments
How is data read from a credit card when making a payment?
By reading the magnetic stripe, chip, or using contactless payment
What is the main difference between a credit card and a stored value card?
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Why do banks often provide stored value cards to certain individuals?
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Digital currency is only exchanged physically using coins and bank notes.
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Stored value cards have an unlimited amount of currency stored on them.
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Contactless payment involves swiping the magnetic stripe of a credit card.
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Credit cards and mobile phones are the only forms of digital currency mentioned in the text.
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Stored value cards are exclusively provided by credit card companies.
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