Digital Payments
- With the onset of Covid Pandemic, Digital payments has gained more momentum as a medium of payment for purchase of any goods or services. One of the methods of online payments is through Digital Wallets also. There are number of digital wallet providers which provide different types of interfaces for making payments. Discuss the features of any 2 Digital Wallet providers with the special features offered by them. Also, mention the architecture of Digital Wallets and specify out of all the service providers which one you use as a mode of payment and why?
Ans 1.
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- A Crypto currency is a form of decentralized virtual currency secured by Encryption Techniques. The first crypto currency was Bit coin created in 2009. Discuss what Bit coins are and what are the benefits and risks associated with the same. Also, discuss any two cases wherein Bit coin has been reported to be used for illegal activities.
Ans 2.
- A Grocery store Super Cart has started accepting payments through digital modes after more stress on accepting digital payments was given by Indian Government. Digital Payments offer the ease in making financial transactions by eliminating the need for carrying plastic cards, cheque books and cash every time. With the same perspective, discuss the following:
- Discuss how Super Cart would be benefitted by accepting payments by digital mode as compared to paper based payments.
Ans 3a.
- Discuss the steps of digital payment process which will be followed when Super Cart will accept payments through digital modes.
Ans 3b.