BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Credit Card is an essential component of which of the following?
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Electronic Commerce
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Internet Commerce
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Both A and B
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None of The Above
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Explanation:
Detailed explanation-1: -Credit Card is an essential component of Internet Commerce, Electronic Commerce.
Detailed explanation-2: -From the bank’s point of view, when a credit card is used to pay a merchant, the payment causes an increase in the amount of money the bank is owed by the cardholder. From the bank’s point of view, your credit card account is the bank’s asset.
Detailed explanation-3: -There are essentially two types of credit cards: general credit cards and retailer credit cards.
Detailed explanation-4: -Cardholder: The holder of the card used to make a purchase; the consumer. card-issuing bank: The financial institution or other organization that issued the credit card to the cardholder.
There is 1 question to complete.