NMIMS
Global Access
School for Continuing Education (NGA-SCE)
Course: Digital Payments
Internal Assignment Applicable for April 2022 Examination
1. Apple Pay is a mobile payment and digital wallet service by
Apple Incorporation. It is a type of contactless payment service that allows
users to make payments at all locations where contactless type of payment is
accepted. It is a technology (Near Field Technology, NFC) that stores the card
and bank details and pulls out the information at the time of payment. Discuss
how the payment is made using Apple Pay by mentioning the major advantages of
NFC and its areas of applications. Also, discuss the different security threats
to NFC in these countries. (10 Marks)
2. Digital Payments have become the most preferred mode of
instrument for making payments of goods and services. It has also been observed
that more than 80% of transactions have been done only through this mode only
and this trend will increase in future as per the prediction by experts. There
are variety of digital payment methods which are followed and used by different
individuals as per their convenience. Considering the same scenario, discuss
the innovations and future of Digital payments by mentioning any two innovative
technologies which can change the entire traditional way of making payments
digitally. (10 Marks)
3. Cryptocurrencies are always in news for one or the other
things. Most of the traders are also looking forward and trying to gather more
information in these types of currencies so that they can invest and mine them.
The backbone of Cryptocurrencies are the Blockchain technology which is a type
of digital ledger system that maintains the records of all transactions done in
mining of these currencies. With the same perspective, discuss the following:
a. Discuss the features of blockchain which makes the complete
management of cryptocurrencies transparent. (5 Marks)
b. Explain the various layers in the stack of bitcoin
blockchain. (5 Marks)
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