26. What is the purpose of an IBAN (International Bank Account Number)?
a) To identify the bank
b) To identify the account number
c) To enable international transfers
d) All of the above
27. Which of the following is not a characteristic of a multi-currency payment system?
a) Ability to make international payments in local currencies
b) Real-time foreign exchange rates
c) Lower transaction fees for international transfers
d) Higher risk of currency fluctuation
28. Which of the following is a risk associated with electronic payment systems?
a) Hacking and data breaches
b) Transaction delays
c) Limited acceptance by merchants
d) Inability to reverse transactions
29. What is the purpose of a Payment Card Industry Data Security Standard (PCI DSS) compliance?
a) To ensure security of cardholder data
b) To prevent fraud in payment systems
c) To enforce customer privacy rights
d) All of the above
30. Which of the following is not a function of a payment gateway in online transactions?
a) Authentication of the payer
b) Encryption of payment data
c) Processing of transactions
d) Issuing of payment cards
