Daily Quiz May 2023

daily quiz

Global card transaction company Visa has launched a new feature in India that allows users to make online payments without the need for CVV number. Visa’s CVV-free service in India does not require __ for the two-factor authentication process.

(a) 16 digit card number (b) CVV number (c) any other card details (d) all of the above Ans.(d) Sol. Visa’s new CVV-free service for tokenised cards in India uses a two-factor authentication process that does not require the 16-digit card number, the CVV number, or any other card details. This enhances security and reduces

Global card transaction company Visa has launched a new feature in India that allows users to make online payments without the need for CVV number. Visa’s CVV-free service in India does not require __ for the two-factor authentication process. Read More »

daily quiz

In the context of wire transfers, who are Regulated Entities (RE)?

(a) Financial institutions that receive wire transfers (b) Financial institutions that initiate wire transfers on behalf of the originator (c) the person who initiates the wire transfer (d) the person who receives the wire transfer S5. Ans.(b) Sol. Ordering regulated entities (REs) are financial institutions that initiate wire transfers on behalf of the originator.

In the context of wire transfers, who are Regulated Entities (RE)? Read More »

daily quiz

The process of securing card details with a unique code is called ___ .

(a) Tokenization (b) certification (c) encryption (d) verification Ans.(a) Sol. Tokenisation is the process of replacing sensitive data, such as credit card details, with a unique code that cannot be used for any other purpose. This code is called a token, and it is used to authenticate and authorize transactions without exposing the original data.

The process of securing card details with a unique code is called ___ . Read More »

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