In a debit-card system,the ________.
A) retailer still has the risk of customer nonpayment
B) purchase price is immediately deducted from a consumer's bank account and then entered into the retailer's account
C) customer can either pay the full amount due immediately or defer payment
D) customer is not billed until his or her billing cycle date

Question

Quizplus · Accepted Answer

In a debit-card system, the purchase price is immediately deducted from a consumer's bank account and then entered into the retailer's account. Therefore, option B is the correct choice. Option A is incorrect because in a debit-card system, the risk of customer nonpayment is borne by the bank, and not the retailer. Option C and D are also incorrect because in a debit-card system, customers are required to make immediate payment and are not allowed to defer payment until the billing cycle date.

In a Debit-Card System,the ________