- Pre Paid Payment Instruments (PPIs) facilitate transactions against a value stored in or on the instrument. - Examples of PPIs include mobile wallets, smart cards, vouchers, etc., where money is loaded beforehand. - Credit cards involve borrowing money from the issuer for purchases, which is a credit/postpaid mechanism, not prepaid.
Which one of the following is not a Pre Paid Payment instrument?
Asked in UPPSC Upper Mains 2014 · Topic: Money & Banking (Payment Systems in India: Digital Payments, UPI, and Central Bank Digital Currency (CBDC))
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