APRP Payment Systems & Technology

Question 1

What is a payment gateway?

Accepted Answer

A technology service that authorizes and processes payment transactions between merchants and acquiring banks

Answer

A physical entrance gate at a bank branch

Answer

A toll booth on a highway

Answer

A firewall protecting bank networks

Question 2

What is the difference between card-present and card-not-present transactions?

Accepted Answer

Card-present involves the physical card at the point of sale; card-not-present is remote (online, phone) without the physical card

Answer

They are identical transaction types

Answer

Card-present only applies to debit cards

Answer

Card-not-present only applies to credit cards

Question 3

What is 3D Secure (3DS) authentication?

Accepted Answer

An additional authentication layer for online card payments requiring cardholder verification through their issuing bank

Answer

A three-dimensional visualization of payment data

Answer

A physical security system using three doors

Answer

A type of security camera with 3D imaging

Question 4

What is real-time payments (RTP) and how does it differ from traditional payment processing?

Accepted Answer

Payments that are initiated, cleared, and settled within seconds, available 24/7/365

Answer

Payments processed at the normal batch processing speed

Answer

Payments that require real-time video verification

Answer

Only cryptocurrency transactions

Question 5

What is open banking and its implications for payment security?

Accepted Answer

A framework allowing third-party access to banking data through APIs, requiring strong authentication and security controls

Answer

A bank branch with an open floor plan

Answer

A marketing campaign to attract new banking customers

Answer

A system where all bank accounts are publicly visible

Question 6

What is biometric authentication in payment systems?

Accepted Answer

Using unique biological characteristics (fingerprint, face, iris) to verify identity for payment transactions

Answer

A method for counting biological specimens in laboratories

Answer

An environmental monitoring system for banks

Answer

A fitness tracking integration with banking apps