Civil Services UPSC EPFO (EO/AO) Mock Test 2023 Current Affairs Business and Economy Economic and Financial Affairs
With reference to Card on File Tokenisation (CoFT), consider the following Statements:
1. A CoF transaction is a transaction where a cardholder has authorised a merchant to store the cardholder’s Mastercard or Visa payment details.
2. The token is used to perform contactless card transactions at point-of-sale (PoS) terminals and QR code payments.
3. Only card networks and card-issuing banks will have access to and can store any card data.
Which of the statements given above are correct?
1
1 and 2 only
2
2 and 3 only
3
1 and 3 only
4
1, 2 and 3