100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
Fintech 2 || with A+ Guaranteed Solutions. $11.49
Add to cart
Quickly navigate to
Preview
  2.  
  3. Fintech 2
  4.  
  5. Fintech 2

Exam (elaborations)

Fintech 2 || with A+ Guaranteed Solutions.
 0 purchase
  • Course
  • Fintech 2
  • Institution
  • Fintech 2

Fintechs can be grouped according to what parties are invovled correct answers -Peer to peer (P2P) -Business to person (B2P) -Person to business (P2B) -Business to business (B2B) Two interesting areas in payments correct answers 1. Cross-border payments 2. Mobile payments Fintechs & payme...

[Show more]

Preview 2 out of 14  pages

Document information

  • August 2, 2024
  • 14
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • fintechs can be grouped according to what parties

Written for

  • Fintech 2
  • Fintech 2

Seller

avatar-seller
FullyFocus

Reviews received

Content preview

Fintech 2 || with A+ Guaranteed Solutions.
Fintechs can be grouped according to what parties are invovled correct answers -Peer to peer (P2P)
-Business to person (B2P)
-Person to business (P2B)
-Business to business (B2B)
Two interesting areas in payments correct answers 1. Cross-border payments
2. Mobile payments
Fintechs & payments correct answers Fintechs started mostly with payments, now may seem to be shifting away to become a data industry
Integrated billing mobile correct answers Consists of payment services such as ordering and payment apps and integrated mobile shopping apps e.g. Uber
Streamlined payments correct answers -Services such as location-based payments e.g. geotagging, -Machine to machine payments
-Mobile point of sale e.g. paypal
Four market segments in cross-border payments ((how do they work)) correct answers 1. Capturing: interfacing directly with users
2. Messaging: involved handling payment instructions
3. Settlement: Involves 1. Transfer of money from bank to bank domestically), 2. Transfer of funds across borders (cross-border settlement)
4. Disbursing: involves interfacing with clients again
Emphasis on what factors in cross-border payments correct answers Low cost
Security
Convenience
Predictability
Transparency
Assumption of confidentiality
Non-cash payment methods correct answers -Payment cards: Can take cash out of ATM and used to pay vendors at point of sale
-Bank transfers: Payment orders made by debtors to transfer sum to creditor
-Direct debits: Where one individual withdraws funds from another person's bank account
-Checks: Negotiable instrument instruction financial institution to pay an amount from an account in makers name
Mobile money correct answers Refers to a network that supports payments from one user to another via a mobile device Three main and highly interrelated disruptive factors, which have helped the market develop in this area correct answers 1. Technology enables innovation
2. Regulatory intervention
3. Shift in consumer preferences
Mobile payments can be classified as the following correct answers -Mobile remote payment (pay independently of phone's location)
-Mobile proximity payment (for in-store)
-Mobile P2P payments
Forms of payment cards correct answers -Debit
-Credit
-Pre-paid
Difference between credit & debit card correct answers -Both eliminate need to carry cash
-Fundamental difference is where card pulls money
Debit: Pulls from your banking account
Credit: Charges to your line of credit
Pain points in traditional monetary subsitutes correct answers -Costs
-User experience
-Time waiting
-No control on spending
-Fraud
First takeaway correct answers Each new payment must be better in some features to substitute an old one
Market infrastructures for clearing correct answers Process of transmitting, reconciling orders prior to settlement
Market infrastructures for settlements correct answers Is the completion of a transaction
System used to facilitate the settlement of transfers of funds
Credit cards are e.g. visa correct answers Global networks that process payments and charge a fee for that
To accept credit cards correct answers -Banks pay for their global network coverage with ATM's
& merchant terminals (POS)
-They're not a bank
-Not liable for any dispute
-Middle men processing the payment for banks & merchants

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller FullyFocus. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $11.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

67479 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 15 years now

Start selling
$11.49
  • (0)
Add to cart
Added