Banking · Retail Banking Channels and Payment Systems

Identify the correct combination of statements regarding retail banking channels and payment mechanisms in India: Statement 1: A Point of Sale (POS) terminal works by reading card data and initiating an ISO 8583 standard message routed for authorization. Statement 2: The Merchant Discount Rate (MDR) is zero for transactions made via RuPay debit cards and BHIM-UPI as mandated by the Government. Statement 3: 'Tokenization' replaces the actual 16-digit card number with a unique alternate code (token) specific to a merchant and device. Statement 4: A Mobile Point of Sale (mPOS) device utilizes a smartphone or tablet paired with a card reader to assist small merchants. Statement 5: The RBI Retail Direct scheme allows individual investors to directly open an account with the RBI to buy Government Securities. Statement 6: Contactless cards use NFC/RFID. The RBI has mandated that every single transaction regardless of the amount requires a compulsory secondary PIN input. Statement 7: FASTag uses passive RFID tags to enable automatic toll payments from linked accounts under the NETC framework.