Multiple choice

Which of the following modes of electronic payments has a small microprocessor chip embedded in it and store money which is reduced as per usage?

  1. Debit card

  2. Smart card

  3. Credit card

  4. E-money

  5. Electronic Fund Transfer (EFT)

Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Smart card is similar to a credit card and a debit card in appearance but it has a small microprocessor chip embedded in it. It has the capacity to store customer work related/personal information. Smart card is also used to store money which is reduced as per usage.