Payment Methods
A payment method that uses physical bills and coins and offers a high level of anonymity.
What is cash?
One major security disadvantage of this type of payment method is the ability to recover or replace it.
What is cash?
These systems can take money directly from your bank account, but you are often protected by security features like ecryption and fraud protection.
What are online payment systems?
You pay with a debit card. Protecting this secret number helps prevent unauthorized purchases.
What is your PIN?
This payment method is difficult to recover if it is lost or stolen because it is not normally reversible.
What is cash?
A written instruction telling a financial institution to pay a specific amount to a named person.
What is a cheque?
A criminal secretly installs a device on an ATM to steal information from payment cards.
What is skimming?
This type of transfer can send money internationally through a financial institution.
What is a wire transfer?
You are buying a used vehicle and the seller wants guaranteed funds. This payment method may be appropriate.
What is a bank draft?
A strong, unique answer to this feature can help protect an e-Transfer from unauthorized access.
What is a security question?
What payment card takes money directly from your bank account when you make a purchase.
What is a debit card?
A scam where you receive a fake email pretending to be from your bank. It asks you to click a link and enter your banking password.
What is phishing?
Unlike a regular cheque, this payment method is guaranteed by the financial institution and should not bounce due to insufficient funds.
What is a bank draft?
You receive a suspicious payment page that looks like your bank's website. You should avoid entering information and verify the website first. This type of scam is often called this.
What is twinning?
This payment method can offer fraud protection and chargeback options, but users should still monitor transactions.
What is a credit card?
A payment card lets you borrow money for purchases that you must repay later.
What is a credit card?
When a criminal uses stolen personal and financial information to pretend to be you and commit fraud.
What is identity theft?
This payment card limits your spending to the money loaded onto it, rather than allowing you to borrow up to a credit limit.
What is a prepaid card?
You need to send money to a family member overseas. This payment method allows money to move between accounts internationally.
What is a wire transfer?
True or false: Because contactless payments use encryption and tokenization, they are completely free from security risks.
What is false?
A bank guarantees that the funds are available for this paper payment method. Unlike a regular cheque, it should not bounce because the payer lacks sufficient funds.
What is a bank draft?
You send money to the wrong person, and the money cannot be recovered. This is a major risk of this payment method.
What is an an e-Transfer?
Contactless payments use this security feature to help protect your actual card number from being exposed during a transaction.
What is tokenization?
Your phone asks for your fingerprint to confirm a purchase while walking through a busy, crowded place. This security feature is protecting you.
What is biometric security?
This payment method limits your spending to the amount loaded onto it, but if it is lost or stolen, the remaining balance may be difficult or impossible to recover.
What is a prepaid credit card?