Digital Payment Systems

Economics ⇒ Money and Banking

Digital Payment Systems starts at 11 and continues till grade 12. QuestionsToday has an evolving set of questions to continuously challenge students so that their knowledge grows in Digital Payment Systems. How you perform is determined by your score and the time you take. When you play a quiz, your answers are evaluated in concept instead of actual words and definitions used.

See sample questions for grade 11

Describe one way in which digital payment systems can help small businesses.

Describe two advantages of using digital payment systems over cash transactions.

Explain how digital payment systems can promote transparency in financial transactions.

Explain how QR codes are used in digital payments.

Explain the impact of digital payment systems on the Indian economy.

Explain the main difference between RTGS and IMPS.

Explain the role of the Reserve Bank of India (RBI) in digital payment systems.

Explain the term 'cashless economy' in the context of digital payments.

Explain the term 'Two-Factor Authentication' in the context of digital payments.

What is meant by a digital payment system?