Exam 11: Payment Systems for Electronic Commerce

In an offline cash storage system, a consumer does not personally possess digital cash, instead a trusted party holds the consumers' cash accounts.

A disadvantage of using paper checks is the delay that occurs between the time that a person writes a check and the time that check clears the person's bank.

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

Businesspeople often use the term _____ as a general term to describe all types of plastic cards that consumers use to make purchases.

What are the advantages and disadvantages of payment cards?

_____ are responsible for evaluating their customers' credit standings and establishing appropriate individual credit limits.

With a(n) _____, a user can pay off the entire card balance or pay a minimum amount each billing period.

The level of fraud in online transactions is much lower than either in-person or telephone transactions of the same nature.

_____ are fees charged by banks for providing payment card processing services to merchants.

With a(n) _____, credit theft is much more difficult because the key to unlock the encrypted information is a PIN.

Some online merchants accept direct deductions from customers' checking accounts which are done through a network of banks called the _____.

When the right to use a zombie farm is sold to an organized crime association that wants to launch a phishing attack, the attack is called a(n) _____.

_____ is a general term that describes any value storage and exchange system created by a private entity that does not use paper documents or coins and that can serve as a substitute for government-issued physical currency.

A debit card removes the amount of the sale from the cardholder's bank account and transfers it to the seller's bank account.

Magnetic strip cards can send and receive information.

When the e-mails used in a phishing expedition are carefully designed to target a particular person or organization, the exploit is called _____.

A _____ requires no download time or installation on a user's computer.

A set of connections between banks that issue credit cards, the associations that own the credit cards, and merchants' banks is called a(n) _____.

_________ EBPP systems are used by large companies who want to manage the system themselves

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