5
QuizMultiple Choice

Banking Basics

Question 5 • FA Personal Finance

How are digital wallets different from Peer-to-Peer (P2P) systems for in-person payments?

Answer
D
Digital wallets need internet at the point-of-sale, but P2P does not.
D
Digital wallets can pay at point-of-sale systems, but P2P cannot.
P
P2P payments can directly debit bank accounts, but digital wallets cannot.
P
P2P payments need a card swipe at point-of-sale, but digital wallets use contactless.
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