A _____ Contains an Embedded Chip That Only Needs to Be

question 58

Multiple Choice

A _____ contains an embedded chip that only needs to be held close to a terminal to transfer its data;no PIN number needs to be entered.

• A) smart card
• B) chip-and-PIN card
• C) contactless payment card
• D) magnetic stripe card

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Definitions:

Multinational Technology

Technologies created, distributed, and utilized by companies operating in multiple countries, emphasizing global innovation and connectivity.

Documentary Collection

A banking process where the seller's bank collects payment for goods from the buyer, against delivery of certain documents.

Exporter's Bank

A financial institution that provides services and financing to companies involved in exporting goods and services abroad.

Collecting Payment

The process of receiving money owed for goods or services provided.