To use smart cards/debit cards/credit cards for the purchase of an item or for payment of a service at a merchants store, the card has to be swiped in a terminal known as

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

To use smart cards/debit cards/credit cards for the purchase of an item or for payment of a service at a merchant’s store, the card has to be swiped in a terminal known as

A	point of sale terminal
B	real time terminal
C	shopping terminal
D	All of the above

Explanation:

Detailed explanation-1: -Smart cards, such as debit cards, are often used with a personal identification number (PIN). Organizations also use them for security purposes, as MFA tokens and for authenticating single sign-on (SSO) users and enabling passwordless authentication.

Detailed explanation-2: -If you’re spending money on electronics, appliances, travel, event tickets, or online purchases, using a credit card is usually the best payment method. Here’s what you need to know about when you should use your credit card to pay, and how to maximize your card’s benefits.

Detailed explanation-3: -A debit card is a payment card that is linked to the funds in your account and can be used to withdraw or deposit cash at ATMs and be used at both in-person and online retailers.

Detailed explanation-4: -In general, NerdWallet recommends paying with a credit card whenever possible: Credit cards are safer to carry than cash and offer stronger fraud protections than debit. You can earn significant rewards without changing your spending habits. It’s easier to track your spending.

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