18 Questions
What is the purpose of a mobile wallet?
Allows users to make purchases by scanning QR codes
Which service is designed for real-time fund transfers?
IMPS
How can users without a smartphone or internet connection access mobile banking facilities?
By dialing *99#
What does UPI stand for in the context of digital payments?
Unified Payments Interface
Which system is NOT mentioned in the text for electronic fund transfers?
RTGS
What is the primary function of IMPS in the context of payment services?
Enabling real-time fund transfers
What technology allows users without a smartphone or data/internet connection to use facilities such as mobile banking by using the *99# code?
USSD
Which payment method is described as a virtual wallet in the form of a mobile app that allows you to make purchases simply by scanning a QR code at the merchant establishment?
Mobile wallet
What technology is commonly used by mobile wallets like PayTM to enable instant confirmation for transactions?
UPI
If a person can make payments using their mobile without carrying cash or cards, which technology are they most likely using?
UPI
Which technology is specifically mentioned as being beneficial for users without access to smartphones and high-speed internet?
USSD
What type of transaction is described as fast and provides instant confirmation for both the sender and receiver?
IMPS
What are some key services provided through the dedicated and secure app of Mobile Banking?
Checking account balance, making funds transfer, bill payments
What is one advantage of Mobile Banking mentioned in the text?
Provides 24x7x365 access to banking services
What should users not do while using Mobile Banking according to the text?
Share PIN number or OTP with anyone
What is Unified Payments Interface (UPI) according to the text?
A system that combines multiple bank accounts' power into a single mobile app
What does UPI ID serve as, based on the text?
A payment address for sending or receiving money using any UPI App
Which of the following is NOT a recommended practice for using Mobile Banking based on the text?
Sharing the PIN number or OTP with anyone
Explore the world of mobile wallets, USSD, and NACH in this quiz. Test your knowledge on how these technologies are used for making purchases, accessing banking facilities, and transferring funds electronically.
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