Which of the following is the correct definition of Credit Card Authentication?

It ensures that the credit card number provided by the customer is correct.

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It ensures the availability of funds in the account of the credit card holder.

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Shows the balance in the account.

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None of the above

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Solution

The correct option is A
It ensures that the credit card number provided by the customer is correct.

Credit Card Authentication ensures that the credit card number provided by the customer is correct.

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Similar questions

44. The Kisan Credit Card Scheme is aimed to ensure timely flow of credit to farmers for which of the following requirements?

1. Marketing of produce.

2. Inland Fishery.

3. Consumption Expenditure.

Q32) Consider the following statements about Payment Banks.

i) Payments banks will mainly deal in remittance services and accept deposits of up to Rs 1 lakh.

ii) They will not lend to customers and will have to deploy their funds in government papers and bank deposits.

iii) They can issuedebit cards and credit cards.

Which of the above statements is/are correct?

Q63. Consider the following statement about The Kisan Credit Card.

1. It is implemented by Cooperative Banks only.

2. Its components are term credit and consumption loans

3. It mitigates the vulnerability of farmers to middlemen.

Which of the above statement(s) is/are correct?

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