Which of the following is considered the primary function of an Electronic Payment System (EPS) in E-Commerce?
An Electronic Payment System (EPS) is designed to allow customers to pay for goods and services online electronically using credit cards, digital tokens, e-wallets, or bank transfers.
Which payment system in India is developed by the National Payments Corporation of India (NPCI) for 24/7 instant mobile payment transfer?
UPI (Unified Payments Interface) was developed by NPCI and allows instant real-time bank-to-bank transactions via smartphones using virtual payment addresses (VPA) or QR codes.
What is the full form of SET protocol, which was jointly developed by Visa and MasterCard for secure credit card transactions?
SET stands for Secure Electronic Transaction. It uses digital certificates and dual signatures to protect credit card numbers and merchant identities during online purchases.
In E-Commerce, what does Electronic Data Interchange (EDI) primarily deal with?
EDI (Electronic Data Interchange) is the computer-to-computer exchange of structured business documents (like purchase orders, invoices) in standard electronic formats between business partners.
Which technology allows a Smart Card to process data and store information securely using an embedded component?
Smart cards contain an embedded Microprocessor / IC chip that can store, process, and encrypt data, making them significantly more secure than traditional magnetic stripe cards.