Digital Payments NMIMS Solve Assignments June 2024

Description

NMIMS Global Access
School for Continuing Education (NGA-SCE)
Course: Digital Payments
Internal Assignment Applicable for April 2024 Examination
Assignment Marks: 30

Instructions:
 All Questions carry equal marks.
 All Questions are compulsory
 All answers to be explained in not more than 1000 words for question 1 and 2 and
for question 3 in not more than 500 words for each subsection. Use relevant
examples, illustrations as far as possible.
 All answers to be written individually. Discussion and group work is not advisable.
 Students are free to refer to any books/reference material/website/internet for
attempting their assignments, but are not allowed to copy the matter as it is from
the source of reference.
 Students should write the assignment in their own words. Copying of assignments
from other students is not allowed
 Students should follow the following parameter for answering the assignment
questions

Q1. Explain with example working of virtual currency? How should security be ensured in
virtual currency? Do you think Virtual currencies will take over real paper money in
future? Support your answer with reasons. (10 Marks)

Q2. What all processes are included in payment services? List at least 4 different payment
system gateway providers and explain working of any one of gateway provider in detail.
(10 Marks)

Q3. Imagine you own a small business that sells products online. Your customers often
abandon their shopping carts because the checkout process is too complicated.

a. What all can you do to solve this problem? How can you use a digital wallet to simplify
the payment process and reduce cart abandonment rates? (5 Marks)

b. Describe the features of a digital wallet that would be most beneficial to your business
and how you would integrate it into your website or mobile app. (5 Marks)

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