28.4.1. Digital Payments

Try these first

1. 1.

   What does UPI stand for?

   Hint

   Think about the payment system widely used in India.

2. 2.

   Name one advantage of using mobile wallets.

   Hint

   Consider traditional cash handling versus digital storage.

3. 3.

   What does UPI stand for?

   • Unified Payments Interface
   • Universal Payment Interface
   • United Payment Interface

   Hint

   Focus on the 'Unified' aspect related to payments.

4. 4.

   True or False: Mobile wallets can only be used for online transactions.

   • True
   • False

   Hint

   Think about how wallets integrate into various transaction environments.

5. 5.

   Evaluate how the integration of digital payment methods can impact small businesses in urban areas.

   Hint

   Consider both the financial and customer relationship aspects.

6. 6.

   Discuss the potential drawbacks of relying entirely on digital payment systems for small businesses.

   Hint

   Think carefully about customer demographics and tech infrastructure.