Question
EconomyDigital Economy and FinTechUPI, Cross-Border Payments and RemittancesMedium (editorial estimate)
Question details
- Type:
- Statement based
- Skill:
- Fact recall
- Tags:
- UPI, Cross-Border Payments and Remittances · Digital Economy and FinTech
- Related topics:
- Cybersecurity, Data Security and Critical Infrastructure
Classification and difficulty are editorial labels. Explanations are awaiting review.
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With reference to digital payments, consider the following statements: 1. BHIM app allows the user to transfer money to anyone with a UPI-enabled bank account. 2. While a chip-pin debit card has four factors of authentication, BHIM app has only two factors of authentication. Which of the statements given above is/are correct?
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Question 28 · UPI, Cross-Border Payments and Remittances · Economy · UPSC Prelims 2018 (GS)