Digital Payments December 2023


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Assignment Sample Solution: Digital Payments December 2023

NMIM$ Global Access

School for Continuing Education (NGA-SCE)

Course: Digital Payments December 2023

Internal Assignment Applicable for December 2023 Examination

1) Outline the steps involved in implementing digital wallets, and then evaluate the opportunities they provide to both businesses and customers. (10 Marks)

2) Explain how blockchain technology is utilized in digital payments and evaluate its potential impact on the future of the financial industry. (10 Marks)

3) You are a business consultant working with a small retail store that specializes in handmade crafts. The store primarily operates with cash transactions and has a limited customer base. The store owner is interested in exploring digital payment options to
improve customer convenience and expand their business. As a consultant, you need to recommend and analyze the implementation of digital payment solutions.

a) Suggest and justify two suitable digital payment options that the small retail store can implement to enhance customer convenience. Consider factors such as ease of use, security, and cost-effectiveness in your recommendations. (5 marks)

b) Analyze the potential impact of adopting digital payments on the small retail store’s business growth and customer acquisition. Discuss how digital payments can help reach a broader customer base and improve overall sales. (5 Marks)

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