Alternative Payments Quiz

Alternative Payment Methods (or ‘APM’s’) are no longer considered as ‘alternatives. Consumers are attracted to the concept of choice as they feel like they have more control and power over their spending. It’s a way for consumers to purchase goods or services without traditional payment methods like cash or cards and include prepaid cards, e-wallets, bank transfers, and payment instalment options (i.e, buy now, pay later). So answer these 30 Questions to find out how much you really know about Alternative Payment Methods

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1. Which country is the leading Mobile Payments market by value?


2. What is Apple’s mobile Payment platform called?


3. When a customer purchases an item via an online website using Android Pay, the responsibility for authentication lies with…


4. which of the following statements can be used to describe “man-in-the-middle” attacks?


5. The pseudonym used by the author of the famous Bitcoin whitepaper is ____________?


6. What role does the ‘Token Service’ play in Payment Tokenisation?


7. Regulatory ____________ in countries like Singapore, UK and elswhere provide a ‘safe space’ where companies can test new FinTech services, in a controlled regulatory environment


8. What has ‘Libra’ got to do with payments?


9. Which statement(s) best describe a Payment Gateway Service Provider?


10. What does the term API mean, when used in software development?


11. Which statement(s) apply to online shopping carts, used by e-commerce websites?


12. Which statement best describes an e-Payment?


13. Credit or debit card transactions in which the merchant does not handle the physical card are called


14. What are the most important factors that a Merchant Acquirer should consider when setting up an online payment system?


15. Which statement best describes the difference between Stored-Value cards and Prepaid Cards?


16. What does the legislative requirement outlined in PSD2, in summary, require Banks to do


17. Which of the following are considered alternative payment methods?


18. What is VCPS and what does it refer to?


19. Which of the following is NOT an online payment method?


20. Which of the following are examples of Wallets (Check all that Apply)


21. Which of the following statements describe ‘NFC’? (Check all that apply.)


22. What is a QR code?


23. Which of the following is NOT a Digital Wallet?


24. Which of the following is current NOT a valid method of making purchases via your mobile?


25. ____________ is/are beginning to reshape the financial services landscape by introducing new ways to instantly communicate and share information among international payment service providers, banks, and financial technology (FinTech) companies


26. What are generally considered the main driver(s) behind electronic payment growth?


27. A common payment acceptance device is called a PoS terminal. What does ‘PoS’ stand for?


28. What is the difference between a payment service provider and a payment processor?


29. Blockchain, also known as distributed ledger technology (DLT), can act as a complete and irrevocable record of all international payment transactions, offering full traceability.


30. What role does a payment processor play in the processing and handing of transactions?



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