Payment Tools and Methods available in the Market Reading Answers

Feb 12, 2026

Payment Tools and Methods available in the Market Reading Answers is an academic reading answers topic. Payment Tools and Methods available in the Market Reading Answers has a total of 13 IELTS questions. In the first question set, candidates have to look at the information about different payment methods in the above text. Write the correct letter A-M. NB You may use one letter more than once. In the rest of the questions, candidates have to choose 2 options from the given options.

The IELTS Reading section is an essential part of the test that evaluates a candidate's comprehension and analysis of various passage types. You will work through a number of IELTS reading practice problems in this section that resemble actual test situations. These questions are designed to help you improve your ability to recognise essential concepts, extract particular facts, and make inferences. Practising these IELTS reading problems can help you get comfortable with the structure and increase your confidence for the exam, regardless of whether you are studying for the Academic or General Training module.

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Section 1

PAYMENT TOOLS AND METHODS AVAILABLE IN THE MARKET

Today, online businesses have more payment platform options than ever before. Each platform comes with its own advantages and fallbacks and it's up to you to find out which is best for your business.

A.Due: Due made a name for itself through its innovative time-tracking and invoicing tools, which are especially useful for freelancers and small business owners. More recently, Due has allowed users to start accepting secure online payments for just a 2.7 per cent transaction rate. Due also accepts global payments, which typically occur within two business days, as well as a digital wallet to send or receive money to anyone in the world instantly with little to no cost. It even has an e-bank where you can store cash online.

B.Stripe: Stripe has fascinated users for the last couple of years with its powerful and flexible API. This means that you can tailor the platform to meet your specific needs, whether you're running a subscription-based company or an on-demand marketplace. Stripe integrates with hundreds of other applications, so even if you're not a professional coder, you can get up and running quickly. The lack of setup, monthly or hidden fees is an added bonus.

C.Apple Pay: If you're a merchant, then it's time to consider accepting Apple Pay. Transactions are faster and more Secure, since Apple Pay uses Touch ID confirmation. In other words, a customer can use their fingerprint to pay for their takeout pizza. Apple Pay is still relatively young, but don't be surprised if the service adapts to support older machines. Also, word on the street is that Apple is working on a P2P payments system within iMessage.

D.Payoneer: Payoneer is one of the oldest global payment processing services. It is available in more than 200 countries and accepts 150 different currencies. Receiving payments is free, and the platform includes a flexible API that grows with your business.

E.2Checkout: 2Checkout is another trusted payment platform that allows users to accept credit cards, debit cards, and PayPal globally. It's available in 87 different languages, offers advanced fraud protection, integrates with hundreds of online shopping carts, and allows you to automatically bill customers with recurring billing.

F.Amazon Payments: If you want to give customers peace of mind, then accept payments through Amazon. Whenever they make a purchase on your site, they automatically go through Amazon's checkout. This means that they'll use their Amazon credentials, which makes the checkout process more convenient and trustworthy.

G.Square: Square changed the game when it introduced its magstripe reader, allowing business owners to swipe credit cards anywhere for a 2.75 per cent transaction fee per swipe. However, you can also send electronic invoices and ultimately get paid through the Square Cash App.

H.Payza: With this popular service, you can send or receive payments from anyone in the world in just a matter of minutes. It also has a cool and easy-to-use interface, offers a robust and unique security system, and provides dedicated support, and it's free to sign up. What's most interesting about Payza is that, on top of receiving and withdrawing funds from a bank account and credit card, it also accepts bitcoin.

I.Skrill: Skrill has features like Instant Withdrawals and deposits, low transaction fees, exclusive offers, the ability to accept from 40 currencies and being able to send text messages directly from your account. If you refer a friend, the company will put 10 per cent of the fees they generate from paying or sending money into your Skrill account for an entire year.

J.Google Wallet: Once known as Google Checkout, Google Wallet is an online payment service that allows users to send safe, Simple, and speedy money transfers from their browser, smartphone or Gmail account. You can store credit cards, debit cards, loyalty cards, and even gift cards in your account.

K.WePay: WePay prides itself on its top-notch customer service and fraud protection. Merchants, however, like the fact that customers can make their purchases without having to leave their site, thanks to a virtual terminal. WePay also offers Know Your Customer collection and risk management, and can be used for invoicing, event ticketing and marketing automation.

L.Intuit Go Payment: Intuit is almost indispensable for a small business owner. Besides being able to accept payments both online and in person with the mobile Go payment credit card processor, Intuit can assist you with payroll and calculating taxes. The most promising feature is the low monthly rate of $19.95, which only charges a 1.6 per cent charge for credit card swipes, as opposed to the standard 2.40 per cent rate.

M.Authorize.net: You can't leave out Authorize.net. After all, it's been processing payments since 1996! It's also the Internet's most widely-used payment gateway and has been the recipient of the Achievement in Customer Excellence (ACE) award from 2008 to 2016. Even though the company has been around for twenty years, it stays current with trends. like being able to accept Apple Pay. No wonder the company is so widely regarded!

Questions 27-32

Look at the information about different payment methods in the above text. Write the correct letter A-M. NB You may use one letter more than once.

27. It has been processing payments for twenty years now and still goes in line with the latest trends.

Answer: M

Supporting statement: After all, it's been processing payments since 1996!... Even though the company has been around for twenty years, it stays current with trends like being able to accept Apple Pay.

Keywords: processing since 1996, twenty years, current with trends

Keyword Location: Para M, Lines 1-4

Explanation: The text mentions the start date (1996) and explicitly states it has been around for twenty years while keeping up with modern trends.

28. It accepts bitcoin, besides receiving and withdrawing funds from a bank account and a credit card.

Answer: H

Supporting statement: What's most interesting about Payza is that, on top of receiving and withdrawing funds from a bank account and credit card, it also accepts bitcoin.

Keywords: bank account, credit card, bitcoin

Keyword Location: Para H, Lines 4-5

Explanation: Payza is the only platform listed that is specifically identified as accepting bitcoin in addition to traditional banking and credit card methods.

29. It makes the checkout process more convenient and trustworthy while online shopping on the site.

Answer: F

Supporting statement: This means that they'll use their Amazon credentials, which makes the checkout process more convenient and trustworthy.

Keywords: checkout process, convenient, trustworthy

Keyword Location: Para F, Lines 3-4

Explanation: The text highlights that using Amazon credentials on a merchant's site increases both the convenience and the trust level for the consumer.

30. It has an e-bank where you can store your cash online for future transactions.

Answer: A

Supporting statement: It even has an e-bank where you can store cash online.

Keywords: e-bank, store cash online

Keyword Location: Para A, Line 6

Explanation: The final sentence for Section A specifically mentions the "e-bank" feature for online cash storage.

31. It is the oldest global payment processing service and accepts 150 different currencies

Answer: D

Supporting statement: Payoneer is one of the oldest global payment processing services. It is available in more than 200 countries and accepts 150 different currencies.

Keywords: oldest, 150 different currencies

Keyword Location: Para D, Lines 1-2

Explanation: The description matches the question perfectly, identifying the platform as one of the oldest and specifying the exact number of currencies.

32. It provides incentives in the account of whosoever refers a friend to use the platform.

Answer: I

Supporting statement: If you refer a friend, the company will put 10 per cent of the fees they generate... into your Skrill account for an entire year.

Keywords: refer a friend, 10 per cent, your account

Keyword Location: Para I, Line 3

Explanation: Skrill offers a referral bonus (an incentive) where the user receives a portion of the fees generated by the person they referred.

Questions 33 & 34

Which of the following TWO cards are stored in your account while using Google Wallet?

A. Travel cards

B. Loyalty cards

C, Identity card

D. Gift cards

33………..

Answer: B

Supporting statement: You can store credit cards, debit cards, loyalty cards, and even gift cards in your account.

Keywords: store, loyalty cards

Keyword Location: Para J, Line 3

Explanation: The text lists "loyalty cards" as one of the specific items a user can keep within their Google Wallet account.

34………..

Answer: D

Supporting statement: You can store credit cards, debit cards, loyalty cards, and even gift cards in your account.

Keywords: store, gift cards

Keyword Location: Para J, Lines 3-4

Explanation: "Gift cards" are explicitly mentioned at the end of the list of storable items in the Google Wallet section.

Questions 35 & 36

Which of the following TWO features talk about Square as an interesting payment gateway?

A. Electronic invoices

B. Tax calculator

C. Magstripe reader

D. Recurring billing

35……………..

Answer: A

Supporting statement: However, you can also send electronic invoices and ultimately get paid through the Square Cash App.

Keywords: electronic invoices, Square Cash App

Keyword Location: Para G, Lines 3-4

Explanation: The text highlights that in addition to swiping cards, users can utilise electronic invoices to receive payments.

36………….

Answer: C

Supporting statement: Square changed the game when it introduced its magstripe reader, allowing business owners to swipe credit cards anywhere

Keywords: magstripe reader, swipe

Keyword Location: Para G, Lines 1-2

Explanation: The "magstripe reader" is credited as the feature that "changed the game" for Square, allowing for mobile credit card processing.

Questions 37 & 38

Which of the following two features makes WePay as a top-notch customer service?

A. Integrates with hundreds of online shopping carts

B. Accepts payments both online and in person

C. Know your Customer and fraud protection

D. Event ticketing and marketing automation

37…………

Answer: C

Supporting statement: WePay prides itself on its top-notch customer service and fraud protection... WePay also offers Know Your Customer collection and risk management

Keywords: top-notch, fraud protection, Know Your Customer

Keyword Location: Para K, Lines 1-3

Explanation: The text directly links WePay’s "top-notch" reputation to its fraud protection and specifically lists "Know Your Customer" as a service it provides.

38………..

Answer: D

Supporting statement: and can be used for invoicing, event ticketing and marketing automation.

Keywords: event ticketing, marketing automation

Keyword Location: Para K, Line 4

Explanation: These are two distinct features listed in the text that contribute to the comprehensive service WePay offers to merchants.

Questions 39 & 40

Which of the following two features is not features of Stripe?

A. Offers a robust and unique security system

B. Allows customisation of the platform

C. Integrates with other applications

D. Innovative time-tracking and invoicing tools

39…………

Answer: A

Supporting statement: With this popular service , you can send or receive payments... offers a robust and unique security system

Keywords: robust, unique security system

Keyword Location: Para H, Lines 1-3

Explanation: According to the text, this feature is explicitly attributed to Payza, not Stripe. Stripe is instead noted for its "powerful and flexible API."

40………..

Answer: D

Supporting statement: Due made a name for itself through its innovative time-tracking and invoicing tools

Keywords: innovative, time-tracking, invoicing

Keyword Location: Para A, Line 1

Explanation: This feature belongs to Due. While Stripe integrates with other apps and allows customization (Options B and C), it is not described in the text as having its own time-tracking tools.

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