Chapter 8

merchant bank

A(n) _____ is a bank that does business with sellers that want to accept payment cards.

cost to consumers.

All of the following are limitations of the existing online credit card payment system except:

PayPal

Mobile peer-to-peer payments service Venmo is owned by

Near Field Communication

Most digital wallets incorporate__________ technology which allows for contactless data transmission over short distances so the computer processor in the microchip con interact with readers and other devices.

small payments

The term _____ refers to all payments less than $10.

True

The use of mobile telephone carriers as a micropayment system has been held back by the mobile carriers' substantial charges for providing the service.

Online payment volume decreases due to the Covid-19 pandemic.

Which of the following is not a major trend in e-commerce payments in 2022-2023?