Payment Instruments

Payment InstrumentsPayment Instruments
Account (Payment Instrument)An important payment instrument utilised around the world is the bank account.
Automated Clearing HouseAutomated Clearing House (ACH) is an electronic network for financial transactions.
BB AccountBranchless banking account is a simplified account offered by banks by leveraging new technologies and agent networks in order to expande their reach.
CardA payment card is a card that can be used by a cardholder and accepted by a merchant to make a payment for a purchase or in payment of some other obligation.
CashCash refers to money in the physical form of currency, such as banknotes and coins.
Cash on DeliveryCash-on-delivery or Collect on delivery (COD) is a financial transaction where the payment of products or services received is done at the time of actual delivery rather than being paid-for in advance.
ChequePayment by cheque is still important in some countries but its use is declining in others. For example, United Kingdom has been successful in greatly reducing the use of cheques.
Credit CardA credit card is a payment card issued to users as a system of payment. It allows the cardholder to pay for goods and services based on the holder's promise to pay for them.
Credit TransferCredit transfer refers to the transfer of money from one account to another, also called a wire transfer.
Debit CardA debit card (also known as a bank card or check card) is a plastic payment card that provides the cardholder electronic access to his or her bank account(s) at a financial institution.
Debit TransferA transfer of funds in which the payer issues a payment order to the payee, the payee takes the order to the payee's bank and the order is passed back to the payer's bank in exchange for the actual funds.
Mobile BillingPayment for good (normally digital) and services is sometimes allowed through a mobile operator bill or prepaid airtime balance. This is referred to as mobile billing.
NFCNear field communication (NFC) is a set of standards for smartphones and similar devices to establish radio communication with each other by touching them together or bringing them into close proximity, usually no more than a few centimeters.
Payment InstrumentThe Shift Thought™ framework describes each initiative in terms of a number of attributes, one of which is the types of payment Instruments supported.
Premium Rate ServicesUse of premium rate services as a tool for collections for quizzes & competitions, charity donations, voting, digital content, adult services, directory enquiries, gambling and more.
Prepaid CardA prepaid card is a payment card that is loaded with money prior to spend. A prepaid card is similar to a normal credit or debit card, with a card number, signature strip and company branding.
SEPA Credit Transfer (SCT)SEPA Credit Transfer refers to the transfer of money from a bank account as supported in the Eurozone.
SEPA Direct Debit TransferSEPA Direct Debit for the Eurozone works like other direct debit schemes to allow money to be requested from someone else with their prior approval.
VoucherA voucher is a bond which is worth a certain monetary value and which may be spent only for specific reasons or on specific goods.
WalletA wallet is an account that represents stored value that can be primarily accessed using a mobile phone or the internet.
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Operationsoperations of different kinds

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