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APRP Handbook - Chp 1: Payment Systems (16%) Practice Questions and Answers (100% Pass) $8.99   Add to cart

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APRP Handbook - Chp 1: Payment Systems (16%) Practice Questions and Answers (100% Pass)

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APRP Handbook - Chp 1: Payment Systems (16%) Practice Questions and Answers (100% Pass)

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  • August 27, 2024
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  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • APRP
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APRP Handbook - Chp 1: Payment Systems (16%)
Practice Questions and Answers (100% Pass)


NACHA was formed in the year... - Answer✔️✔️-1974

Memo Post - Answer✔️✔️-A posting to an account which may affect the
balance but is temporary until the institution has completed all verification
and reconciliation it receives throughout the day.

Proximity Payments - Answer✔️✔️-POS transactions made with a mobile
device like a cellphone, smart card, PDA or any device with a microchip
(the term M-payment is exclusive to a mobile phone)

Decoupled Debit Cards - Answer✔️✔️-A card issued by a financial
institution regardless of where customer's transaction accts are held. The
issuer uses the ACH network instead of EFT network for settlement.
(example: Target Red Card)

Contactless Cards or key fobs - Answer✔️✔️-Utilize an embedded computer
chip with financial and personal info for transactions. They employ radio-
frequency identification (RFID) technology

PCI DSS is... - Answer✔️✔️-Payment Card Industry Data Security Standards:
designed to ensure that ALL companies that accept, process, store or
transmit credit card information maintain a secure environment


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