• Question

      Which of the following can be a Pre-Paid Instrument (PPI)? 

      i.  Smart Card

      ii. Mobile Wallet

      iii.Internet accounts

      A Only i & ii Correct Answer Incorrect Answer
      B Only i & iii Correct Answer Incorrect Answer
      C Only ii & iii Correct Answer Incorrect Answer
      D All i, ii and iii Correct Answer Incorrect Answer
      E None of these Correct Answer Incorrect Answer

      Solution

      Prepaid payment instruments are methods that facilitate purchase of goods and services against the value stored on such instruments. The prepaid instruments can be issued as smart cards, magnetic stripe cards, internet accounts, online wallets, mobile accounts, mobile wallets, paper vouchers and any such instruments used to access the prepaid amount.

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