Which of the following is similar to personal cheques, but feasible for very…
2016
Which of the following is similar to personal cheques, but feasible for very small transactions?
Answer: B. E-cash — the question asks for a payment method similar to personal cheques but feasible for very small transactions. E-cash (electronic cash or digital cash) mimics…
- A.
ATM
- B.
E-cash
- C.
Debit card
- D.
Credit card
Attempted by 168 students.
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Correct answer: B
the question asks for a payment method similar to personal cheques but feasible for very small transactions. E-cash (electronic cash or digital cash) mimics the properties of physical cash or paper cheques in a digital format. While writing a traditional personal cheque for extremely small amounts (micropayments) is highly impractical due to high processing overheads and bank fees, E-cash systems are specifically optimized to handle very small, low-overhead digital transactions efficiently over the internet.