Consider the following:

  1. Smart cards
  2. Magnetic stripe cards
  3. Paper vouchers

  Which of the above are Pre-paid Payment Instruments (PPIs)? 

Answer: [D] 1, 2 & 3

There are large variety of PPIs including smart cards, magnetic stripe cards, internet accounts, internet wallets or digital wallets, mobile accounts, mobile wallets, paper vouchers and any such instrument which can be used to access the pre-paid amount.

This question is a part of GKToday's Integrated IAS General Studies Module