Draw a diagram illustrating the relationship between the customer, the customer’s bank, the merchant and the merchant’s bank in a typical offline cash transaction. Then draw a diagram using an electronic cash payment system to illustrate these relation- ships.
What will be an ideal response?
a) The Traditional Payment:
In a traditional payment a consumer draws from an account at a bank to make a payment to the merchant. This is often
done by check or credit card. Once the payment is made, the merchant must then deposit the payment in their account.
b) Electronic Cash Payment System:
One of the most popular methods of electronic payment is with an e-wallet. In this system, a customer opens an e-wallet
account with a bank (often the same bank as the merchant) and transfers funds with the merchant’s bank. This secure
system allows customers to make purchases without the use of cash, check or credit card.
You might also like to view...
A ________ loop is a good way to step through the elements of an array and perform some program action on each indexed variable.
a. while b. do…while c. for d. all of the above
This is the base technology in xDSL services.
What will be an ideal response?
In the accompanying figure, Item 1 points to the ____ for the text defined in the document window.
A. Left Indent B. Hanging Indent marker C. First Line Indent marker D. Right Indent marker
The purpose of the preliminary investigation is to define and evaluate the proposal for a new system or system modification relatively quickly, to see if it is worthy of further study. _________________________
Answer the following statement true (T) or false (F)