A is a type of payment service through which businesses and individuals can receive and send money via mobile devices.

cash on delivery

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wallet

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debit card

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net banking

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Solution

The correct option is B wallet
A wallet is a type of payment service through which businesses and individuals can receive and send money via mobile devices. It is a virtual wallet that stores payment card information on a mobile device.

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A mobile wallet is a type of payment service through which businesses and individuals can receive and send money via mobile devices.

68. New indigenously developed payment app 'BHIM' (Bharat Interface for Money) was in the News, consider the following statements in this regard:

i. BHIM is a biometric payment system app using Aadhar platform, and is based on Unified Payment

Interface (UPI) to facilitate e-payments directly through bank.

ii. It was launched to stress on the importance of technology and digital transactions and can be used on all mobile devices.

Which of the statements given above is/are correct?

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