Which One of the Following Is Not True for PayNearMe

question 78

Multiple Choice

Which one of the following is not true for PayNearMe transactions?

• A)It is used by people without a credit or debit card.
• B)It is used for online buying.
• C)It allows buyers to make a purchase and then pay cash at a local store.
• D)The customer does not receive a receipt.
• E)The seller is notified of the payment.

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Definitions:

Debt Security

A financial instrument representing a loan made by an investor to a borrower, typically involving regular interest payments and the return of principal at maturity.

Borrower's Assurance

A guarantee provided by a borrower to a lender that the borrower will meet the obligations of the loan agreement.

Lenders

Entities or individuals that provide funds to borrowers under an agreement to repay with interest.

Loans

Sums of money borrowed that are expected to be paid back with interest.