Which one of the following statements regarding Advantages and Disadvantages of Payment Cards is false?

Select one:

a. The consumer pays no per-transaction fees for using payment cards, but the prices of goods and services are slightly higher than they would be in an environment free of payment cards.

b. Merchants view the per-transaction and monthly processing fees as a cost of doing business.

c. Some credit cards and a few debit cards and charge cards assess consumers an annual fee.

d. Consumers can authenticate and authorize purchases using a payment card processing network.