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Digital Transactions

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Questions and Answers

Which of the following is NOT a key component of digital payment systems?

Mobile phones
Physical cash (correct)
Retail agents
Digital transactional platform

What is required for users to make digital payments?

Physical cash
Digital wallet
Credit card
Existing bank account (correct)

Which of the following is NOT mentioned as a provider of digital financial services?

Supermarkets (correct)
Banks
Microfinance institutions
Mobile operators

What devices can be used to transact via the digital transactional platform?

All of the above (D) Signup and view all the answers

How do digital payment systems offer basic financial services at lower cost than traditional banking?

By leveraging mobile phones (B) Signup and view all the answers

Which of the following is required to withdraw money from an ATM?

Typing in a unique PIN number (B) Signup and view all the answers

What can be done with a debit card at an ATM?

All of the above (D) Signup and view all the answers

What is the maximum amount that can be withdrawn per day from an ATM?

Set by the bank (C) Signup and view all the answers

What is the last step in the process of shopping with a debit card at a retail store?

Merchant keeps the signed receipt (C) Signup and view all the answers

What does the user receive after making a transaction using a debit card at a retail store?

Copy of the signed receipt (A) Signup and view all the answers