Fig. 1 shows the route of a payment when a customer purchases goods at a small retailer using a card terminal. Customer cardcurrent accountBankauthorisation...
Question 1 Report
Fig. 1 shows the route of a payment when a customer purchases goods at a small retailer using a card terminal.
(a) Which method of payment is shown in Fig. 1? [1]
(b) Complete the following sentence: the money is taken from the customer’s ______ account. [1]
(c) Give two features of this method of payment that may help the retailer serve customers quickly. [2]
Answer Details
(a) The payment route shown is a debit card payment [1].
(b) The money is taken from the customer's current account [1]. A debit-card transaction uses money held in the customer's bank account rather than borrowed credit.
(c) Two features that can speed up service are:
- A contactless tap can be used [1].
- Electronic authorisation confirms payment quickly [1].
Electronic transfer of funds, no need to count cash or give change, and an electronic receipt or record are also acceptable.
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