P2P payment systems are a variation on what type of payment system?
A)stored value payment system
B)digital checking system
C)accumulating balance system
D)digital credit card system

Question

Quizplus · Accepted Answer

P2P payment systems involve transferring funds directly between individuals or entities, typically using a mobile device or online platform. This type of payment system relies on a stored value method, where users maintain a balance of funds within the system that can be used to make future payments. This is distinct from a digital checking system, which typically involves transfers between bank accounts, and a accumulating balance system, which involves tracking purchases over time to calculate a balance owed. A digital credit card system involves using a virtual credit card for online purchases, which is not the same as P2P payments.

P2P Payment Systems Are a Variation on What Type of Payment