Question

One advantage of many mobile payment systems over traditional credit card systems is the ability to handle micropayments, or transactions involving relatively small sums of money. True or False

Answer 1

True, mobile payment systems offer the advantage of handling micropayments more effectively than traditional credit card systems.

Step-by-step explanation:

It is true that one advantage of many mobile payment systems over traditional credit card systems is the ability to handle micropayments, or transactions involving relatively small sums of money. The concept of money in our economy has evolved significantly, especially with the advent of fintech and virtual currencies like bitcoin. While traditional payment forms like credit cards, debit cards, and smart cards facilitate the movement of money, they do not alter the overall quantity of money in the economy.