Swipe Your Credit Card on a Cell Phone

(PhysOrg.com) -- With a small card reader that attaches to a cell phone, a new company is making it easier for small businesses and even individuals to accept credit card payments. The San Francisco start-up, called Square, ...

Ensuring cash supplies in crisis and emergency situations

The demand for cash increases in times of crisis since many people consider banknotes and coins to be a particularly safe way to keep money. Moreover, cash is the only instrument of payment that is largely independent of ...

Endless original, copyright-free music

A group of researchers from the University of Granada has developed Inmamusys, a software program that can create music in response to emotions that arise in the listener. By using Artificial Intelligence techniques, the ...

US seizes Bitcoin operator accounts

US authorities seized the accounts of a Bitcoin digital currency exchange operator, claiming it was functioning as an "unlicensed money service business," court documents showed Friday.

Gadget Watch: HP Envy 14 PC has smart-tag sensor

(AP) -- Thin, light laptops -known as "ultrabooks"- are a much-hyped category at this year's International Consumer Electronics Show, an annual showcase for the latest smartphones, tablet computers and other consumer-electronic ...

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Payment

A payment is the transfer of wealth from one party (such as a person or company) to another. A payment is usually made in exchange for the provision of goods, services or both, or to fulfill a legal obligation.

The simplest and oldest form of payment is barter, the exchange of one good or service for another. In the modern world, common means of payment by an individual include money, cheque, debit, credit, or bank transfer, and in trade such payments are frequently preceded by an invoice or result in a receipt. However, there are no arbitrary limits on the form a payment can take and thus in complex transactions between businesses, payments may take the form of stock or other more complicated arrangements.

In law, the payer is the party making a payment while the payee is the party receiving the payment.

This text uses material from Wikipedia, licensed under CC BY-SA