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8 Cards in this Set
- Front
- Back
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What contents would you expect to find in an electronic wallet?
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Payment card information, electronic cash, and personal consumer identification.
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Why is the electronic cash industry so concerned with micro-payment capacity?
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Because traditional methods do not support transactions under a dollar.
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How can double spending of electronic cash actually occur?
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Because of delays in a merchant presenting the cash or deposit.
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What is the major current limitation to electronic wallets?
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A lack of standards.
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What is the difference between a closed loop and open loop payment card system?
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In closed loop systems, a single institution serves as a broker between the card user in the merchant.
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What makes a smart card smart?
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An embedded microchip with stored information.
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What is the primary benefit of SET over SSL?
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SSL does not verify that the consumer is the payment holder who owns the payment card. Secure electronic transaction (S. ET) is a secure protocol to provide security for card payments as the traverse the Internet between merchant sites and processing banks. Secure sockets layer (SSL) is a protocol for transmitting private information securely over the Internet.
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What is the primary disadvantage of payment cards?
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????
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