BUISENESS MANAGEMENT
RISK MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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calculates the credit worthiness of a potential customer
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checks to see if a customer has enough money in his/her checking account to cover a purchase
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checks to see if a customer’s credit card is valid
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generates a summary of a customer’s credit report
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Detailed explanation-1: -Card authorization is approval from a credit or debit card issuer (usually a bank or credit union) that states the cardholder has sufficient funds or the available credit needed to cover the cost of a transaction they’re using a card to complete.
Detailed explanation-2: -The most common method of verifying that the person using the card has physical access to it is requesting the card verification value (CVV) number. The CVV number typically consists of three to four digits and is usually located on the back of the card.
Detailed explanation-3: -Payment Authorization is a process through which the amount to be paid on a payment method is verified. In case of credit cards, authorization specifically involves contacting the payment system and blocking the required amount of funds against the credit card.
Detailed explanation-4: -Payment authentication is confirming an account or cardholder’s identity. Payment authorization ensures that a cardholder has the appropriate funds or credit needed to fulfill a transaction amount.