APRP - CHAPTER ONE - PART THREE Questions and Answers with
Verified Solutions | Latest 2026 Update
Q: Debit cards fall into two broad groups
Answer:
1. Those designed exclusively for ATM use
2. Those that can also be used for payment for purchases from retail merchants
Q: Debit cards are almost exclusively issued by
Answer:
Financial institutions
Q: Prepaid debit cards are similar to debit cards, but are
Answer:
Not linked to an individual bank
account and may be issued by nearly any type of business or organization
Q: The fastest growing payment card product
Answer:
Prepaid cards
,APRP - CHAPTER ONE - PART THREE Questions and Answers with
Verified Solutions | Latest 2026 Update
Q: Card payment rail participants
Answer:
1. Card holder
2. Issuing bank
3. Acquirer
4. ATM/Payment Network
5. Merchant
6. ISO
7. Card Association
Q: Card holder
Answer:
An individual who has been issued or is authorized to use a credit, charge, debit
or prepaid card
,APRP - CHAPTER ONE - PART THREE Questions and Answers with
Verified Solutions | Latest 2026 Update
Q: Issuing bank (issuer)
Answer:
1. Issues cards
2. Cardholder bank
3. Must be a member of the card association.
4. Issuing bank pay acquiring banks for the purchases their card holders make.
Q: 5. Issuing banks receive repayment from card holders according to the terms of
their
Answer:
agreement
Q: Acquirer
Answer:
1. An organization that represents merchants in the processing, acceptance and
settlement of POS transactions.
2. Acquires provide merchants with equipment and software to accept cards.
3. Deposits funds from credit card sales into a merchant's account
, APRP - CHAPTER ONE - PART THREE Questions and Answers with
Verified Solutions | Latest 2026 Update
Q: ATM/Payment Network
Answer:
1. Systems that facilitate the routing of payment card authorization
requests, corresponding responses and settlement transactions between acquirers and
issuers.
2. Develop, establish and promote network brand.
3. Develop and administer transaction processing and operating rules and standards.
4. Enforce compliance and conceive and develop new payment card-related
technologies and
services
Q: Merchant
Answer:
Any person entity engaged in the sale of goods or services
Verified Solutions | Latest 2026 Update
Q: Debit cards fall into two broad groups
Answer:
1. Those designed exclusively for ATM use
2. Those that can also be used for payment for purchases from retail merchants
Q: Debit cards are almost exclusively issued by
Answer:
Financial institutions
Q: Prepaid debit cards are similar to debit cards, but are
Answer:
Not linked to an individual bank
account and may be issued by nearly any type of business or organization
Q: The fastest growing payment card product
Answer:
Prepaid cards
,APRP - CHAPTER ONE - PART THREE Questions and Answers with
Verified Solutions | Latest 2026 Update
Q: Card payment rail participants
Answer:
1. Card holder
2. Issuing bank
3. Acquirer
4. ATM/Payment Network
5. Merchant
6. ISO
7. Card Association
Q: Card holder
Answer:
An individual who has been issued or is authorized to use a credit, charge, debit
or prepaid card
,APRP - CHAPTER ONE - PART THREE Questions and Answers with
Verified Solutions | Latest 2026 Update
Q: Issuing bank (issuer)
Answer:
1. Issues cards
2. Cardholder bank
3. Must be a member of the card association.
4. Issuing bank pay acquiring banks for the purchases their card holders make.
Q: 5. Issuing banks receive repayment from card holders according to the terms of
their
Answer:
agreement
Q: Acquirer
Answer:
1. An organization that represents merchants in the processing, acceptance and
settlement of POS transactions.
2. Acquires provide merchants with equipment and software to accept cards.
3. Deposits funds from credit card sales into a merchant's account
, APRP - CHAPTER ONE - PART THREE Questions and Answers with
Verified Solutions | Latest 2026 Update
Q: ATM/Payment Network
Answer:
1. Systems that facilitate the routing of payment card authorization
requests, corresponding responses and settlement transactions between acquirers and
issuers.
2. Develop, establish and promote network brand.
3. Develop and administer transaction processing and operating rules and standards.
4. Enforce compliance and conceive and develop new payment card-related
technologies and
services
Q: Merchant
Answer:
Any person entity engaged in the sale of goods or services
