A
A transfer from one mobile wallet provider to another inter-operable wallet
B
A person-to-merchant transfer conducted via digital payment channels for commercial purchase of goods or services
C
A government-to-merchant subsidy transfer for MSMEs
D
A peer-to-peer monetary remittance processed through banking intermediaries
Correct answer: (b) A person-to-merchant transfer conducted via digital payment channels for commercial purchase of goods or services
Explanation
A P2M (Person-to-Merchant) transaction refers to a transfer conducted via digital payment channels for the commercial purchase of goods or services. The other options mischaracterize the transaction type.
Same topic · past papers
UPSC has asked this before
These previous-year questions sit on the same topic. Open one to practise the earlier ask.
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2018 · Q6 · General Studies · 2 marks
Which one of the following best describes the term "Merchant Discount Rate" sometimes seen in news? -
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