If a Retailer Accepts a National Credit Card Such as Visa

question 192

True/False

If a retailer accepts a national credit card such as Visa the retailer must maintain detailed records of customer accounts.

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Definitions:

E-money Transactions

Financial transactions carried out electronically, using digital currencies or electronic substitutes for cash.

Electronic Fund Transfer Act

A US federal law designed to protect consumers engaging in electronic transfers, including ATM transactions, direct deposits, and other electronic payments.

Commercial

Related to the buying and selling of goods and services or to business activities in general.

Consumer

An individual who purchases goods or services for personal use rather than for manufacturing or resale.