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What is the purpose of electronic tokens in online payments?
  • a)
    To replace physical cash completely.
  • b)
    To provide customers with physical payment cards.
  • c)
    To serve as digital analogs of various forms of payment.
  • d)
    To establish direct communication between customers and merchants.
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
What is the purpose of electronic tokens in online payments?a)To repla...
Electronic tokens serve as digital analogs of various forms of payment backed by banks or financial institutions. They can be real-time tokens (pre-paid tokens) or post-paid tokens used for fund transfer instructions.
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What is the purpose of electronic tokens in online payments?a)To replace physical cash completely.b)To provide customers with physical payment cards.c)To serve as digital analogs of various forms of payment.d)To establish direct communication between customers and merchants.Correct answer is option 'C'. Can you explain this answer?
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