Question:
Briefly explain the different modes through which the merchant collects payments from customers.
Briefly explain the different modes through which the merchant collects payments from customers.
Show Hint
Modern payment systems include cash, cards, and digital methods like UPI and wallets.
Updated On: Mar 27, 2026
Show Solution
Verified By Collegedunia
Solution and Explanation
Step 1: Cash payments.
Customers can pay directly using physical cash at the store.
Step 2: Card payments.
Debit and credit cards are used through POS machines for electronic transactions.
Step 3: Digital payments.
Payments can be made using mobile wallets, UPI, or online banking apps.
Step 4: Cheque payments.
Some merchants accept cheques as a mode of payment.
Step 5: Contactless payments.
Technologies like NFC allow quick tap-and-pay transactions.
Was this answer helpful?
0
0
Top CBSE CLASS XII Retail Questions
- A statement which conveys the exact message that you are trying to convey to the other person is called a/an _____________ statement.
- Which of the following is not related to positive attitude?
- How does intrinsic motivation occur?
- ______ are like new pages, which are added to separate different topics in a presentation.
- Which of the following is not a characteristic of entrepreneurship?
View More Questions
Top CBSE CLASS XII Retail Questions
- Write the expanded form of FIGs.
- The responsibilities towards customers are to maintain and also increase the_______ of the enterprise among its customers.
- Retail supervisor is responsible for maintenance or change in _______displays including those required for periodic sale events.
- Housekeeping Supervisor supervises the _____________.
- Visual Merchandiser takes care of the _____________ representing a seasonal theme.
View More Questions
Top CBSE CLASS XII Questions
- 2, b, c are in A.P. and the range of determinant $\begin{vmatrix}1&1&1\\ 2&b&c\\ 4&b^{2}&c^{2}\end{vmatrix}$ is [2, 16]. Then find range of c is
- A boy of mass 50 kg is standing at one end of a, boat of length 9 m and mass 400 kg. He runs to the other, end. The distance through which the centre of mass of the boat boy system moves is
- A capillary tube of radius r is dipped inside a large vessel of water. The mass of water raised above water level is M. If the radius of capillary is doubled, the mass of water inside capillary will be
- A circular disc is rotating about its own axis. An external opposing torque 0.02 Nm is applied on the disc by which it comes rest in 5 seconds. The initial angular momentum of disc is
- A circular disc is rotating about its own axis at uniform angular velocity \(\omega.\) The disc is subjected to uniform angular retardation by which its angular velocity is decreased to \(\frac {\omega}{2}\) during 120 rotations. The number of rotations further made by it before coming to rest is
View More Questions