Payments Systems

Question 1

What are the four ways of paying online?

Answer 1

• Credit/debit cards
• Third Party Payment Processor (PayPal)
• Online Bank Transfer
• Online coupons and online gift vouchers / EVouchers

Question 2

What is a debit card?

Answer 2

They let customers pay by taking money directly out of their account.

Question 3

What is a Credit Card?

Answer 3

They allow the customer to borrow money. The customer pays the money back at a later date, often with interest

Question 4

What details do you give when paying for something online?

Answer 4

• Card number
• Cardholder’s Name
• Expiry date of the card
• Credit card Verification (CCV) code

Question 5

What does the CCV code mean?

Answer 5

The Credit Card Verification (CCV) code is the number on the back of the card which is not included on the magnetic stripe or chip. Entering the CCV means the person entering the code must have seen the card.

Question 6

What do you look for to check if a website is secure?

Answer 6

• The URL changing from HTTP to HTTPS
• A Change in the address bar’s colour (often green)
• ‘Norton Secured’ which adds a further layer of authentication
• A padlock Symbol