FINTECH FINAL EXAM QUESTIONS WITH DETAILED
VERIFIED AND 100% ACCURATE ANSWERS
Digital Payment (PayTech) - Definition Correct Answers Technologies
enabling the electronic transfer of money via digital devices and
platforms
Digital Payment (PayTech) - Problem Solving Correct Answers
Simplifies and accelerates payment processes, reducing dependance on
cash and checks
Digital Payment (PayTech) - Disruptive Correct Answers Challenges
traditional banking/payment systems by offering faster, more
convenient, and often cheaper alternatives
Digital Payment (PayTech) - Accessibility Correct Answers Widely
accessible through smartphones, apps, and online platforms globally
Digital Payment (PayTech) - Cost Efficiency Correct Answers Reduces
transaction costs, physical infrastructure, and labor
Digital Payment (PayTech) - Examples Correct Answers PayPal,
Venmo, Apple Pay, Alipay
Digital Payment (PayTech) - Flaws Correct Answers Susceptible to
cyberattacks, fraud, and privacy breaches. Can marginalize users in
cash-based or digitally underserved regions
, Crypto & Blockchain - Definition Correct Answers Decentralized digital
assets (cryptocurrencies) and distributed ledger technology (blockchain)
for secure and transparent transactions
Crypto & Blockchain - Problem Solving Correct Answers Addresses
issues of trust, security, and transaction inefficiency in financial systems
Crypto & Blockchain - Disruptive Correct Answers Undermines
centralized financial authorities (like banks) by enabling peer-to-peer,
borderless transactions
Crypto & Blockchain - Accessibility Correct Answers Open to anyone
with internet access, though regulatory and technical literacy barriers
exist
Crypto & Blockchain - Cost Efficiency Correct Answers Potentially
reduces costs in cross-border payments, record-keeping, and fraud
prevention
Crypto & Blockchain - Examples Correct Answers Bitcoin, Ethereum,
Ripple
Crypto & Blockchain - Flaws Correct Answers Highly volatile, prone to
speculation. High energy consumption (especially Proof-of-Work
blockchains). Regulatory uncertainty and potential for illicit uses
VERIFIED AND 100% ACCURATE ANSWERS
Digital Payment (PayTech) - Definition Correct Answers Technologies
enabling the electronic transfer of money via digital devices and
platforms
Digital Payment (PayTech) - Problem Solving Correct Answers
Simplifies and accelerates payment processes, reducing dependance on
cash and checks
Digital Payment (PayTech) - Disruptive Correct Answers Challenges
traditional banking/payment systems by offering faster, more
convenient, and often cheaper alternatives
Digital Payment (PayTech) - Accessibility Correct Answers Widely
accessible through smartphones, apps, and online platforms globally
Digital Payment (PayTech) - Cost Efficiency Correct Answers Reduces
transaction costs, physical infrastructure, and labor
Digital Payment (PayTech) - Examples Correct Answers PayPal,
Venmo, Apple Pay, Alipay
Digital Payment (PayTech) - Flaws Correct Answers Susceptible to
cyberattacks, fraud, and privacy breaches. Can marginalize users in
cash-based or digitally underserved regions
, Crypto & Blockchain - Definition Correct Answers Decentralized digital
assets (cryptocurrencies) and distributed ledger technology (blockchain)
for secure and transparent transactions
Crypto & Blockchain - Problem Solving Correct Answers Addresses
issues of trust, security, and transaction inefficiency in financial systems
Crypto & Blockchain - Disruptive Correct Answers Undermines
centralized financial authorities (like banks) by enabling peer-to-peer,
borderless transactions
Crypto & Blockchain - Accessibility Correct Answers Open to anyone
with internet access, though regulatory and technical literacy barriers
exist
Crypto & Blockchain - Cost Efficiency Correct Answers Potentially
reduces costs in cross-border payments, record-keeping, and fraud
prevention
Crypto & Blockchain - Examples Correct Answers Bitcoin, Ethereum,
Ripple
Crypto & Blockchain - Flaws Correct Answers Highly volatile, prone to
speculation. High energy consumption (especially Proof-of-Work
blockchains). Regulatory uncertainty and potential for illicit uses
