Asked by Kamal Kaley on Jun 15, 2024
Verified
What type of e-money uses microchips for storing data that can be used to transfer funds?
A) Stored-value cards
B) Smart cards
C) Intelligent cards
D) Transfer cards
E) Thumbprint cards
Smart Cards
Plastic cards embedded with a microprocessor chip, which can store and process data, used for various applications like credit cards and identity verification.
Stored-Value Cards
Prepaid payment cards where a monetary value is stored on the card itself, not in an external account.
Microchips
Small semiconductor devices that contain integrated circuits, used in a variety of electronic equipments and devices.
- Familiarize yourself with the concepts of electronic fund transfers and the technological advancements enabling these processes.
Verified Answer
Learning Objectives
- Familiarize yourself with the concepts of electronic fund transfers and the technological advancements enabling these processes.
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