Means of payment are something that can be used to pay for goods and services.
Cash and money in a bank account (including credit cards or other forms of credit) are the most common means of payment these days.
Shares, precious metals like gold and silver, or gemstones can also be considered means of payment – although you probably can’t carry around a treasure chest when buying lunch.
Means of payment
The most common payment methods include:
- Cash
- Bank transfers
- Debit cards
- Credit cards
- Online payment systems
- Mobile payment solutions