11. The process of converting a paper check into an electronic form is called _______.
a) Check truncation
b) Check imaging
c) Check processing
d) Check encoding
12. Which of the following is not an advantage of electronic banking payment systems?
a) Convenience
b) Speed of transaction
c) Lower risk of fraud
d) Higher cost
13. What is the purpose of a CVV (Card Verification Value) number on a credit card?
a) To authenticate the cardholder
b) To authorize the transaction
c) To verify the card’s validity
d) All of the above
14. Which of the following is not a type of E-money payment system?
a) Mobile wallet
b) Bitcoin
c) Prepaid card
d) Cheque
15. What is the main advantage of a contactless payment system?
a) Security of transaction
b) Convenience and speed
c) Lower transaction fees
d) Ability to make international payments
