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O Levels Economics (2281)•2281/12/O/N/23
Question 11 from 2281/12/O/N/23

Explanation

Anonymity in Payment Methods

Steps:

  • Identify payment methods that reveal customer details like name, account, or transaction history.
  • Evaluate cash: No personal data shared during transaction.
  • Evaluate cards: Require account linkage for processing.
  • Evaluate smartphones: Often use digital wallets tied to personal info.

Why A is correct:

  • Cash transactions are anonymous by definition, exchanging physical currency without any personal identifiers or records.

Why the others are wrong:

  • B. Debit cards link to bank accounts, sharing customer financial details with sellers and processors.
  • C. Credit cards provide cardholder name, number, and billing info to verify and process payments.
  • D. Smartphones enable payments via apps that track user identity and location through linked accounts.

Final answer: A

Topic: Money and banking

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