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Computers: Understanding Tech 5e 10.7

Quiz yourself by thinking what should be in each of the black spaces below before clicking on it to display the answer.
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Term
Definition
electronic funds transfer (EFT)   Any transfer of money over the Internet.  
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credit card   A small plastic card with a magnetic strip containing owner information that enables the owner to make online and in-store purchases on credit.  
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debit card   A card that is similar to a credit card and, like a credit card, is used as an alternative to cash when making purchases. Unlike a credit card, however, it is linked to a checking or savings account from which the money is withdrawn.  
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credit account   An arrangement in which the online retailer charges purchases to the customer’s account and the customer promises to pay for the purchases upon receipt of a monthly statement, just as for a regular credit card.  
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person-to-person payment system   A system that enables consumers to transfer money to one another through a credit card or bank account.  
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micropayment   A small amount of money, usually paid electronically.  
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digital wallet   An app—usually, a mobile app—that gathers all your credit card and loyalty payment information together and is typically used to make payments at bricks-and-mortar retailers.  
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quick response (QR) code   A code that provides a signal to a consumer that he or she can find out more about a product or service online, by scanning the code with a mobile QR code scanner app.  
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