- A Card code verification (CCV) is a three- or four-digit number that is printed on the credit card, and is encoded in the cards magnetic strip.

True False

6 - A closed loop system is a payment card arrangement involving a consumer and his or her bank, a merchant and its bank, and a third party (such as Visa or MasterCard) that processes transactions between the consumer and merchant.

True False

8 - A Biller-direct EBPP system is used by large companies who want to manage and maintain their own systems directly.

True False

n 9 - A micropayment is generally less than $1.00.

True False

3 - A client-side digital wallet is an electronic or digital wallet that stores a consumers information on the consumers own computer.

True False