Cambridge team exposes EMV card vulnerabilities

(Phys.org)—At a cryptography gathering in Leuven, Belgium, on Tuesday, Cambridge University researchers made it known that they do not like what they see in chip and pin systems. Banks rely on customer confidence in their ...

Conservation costs can be higher than bargained for

Sweeping policies that reward people in environmentally sensitive areas for returning their farmlands to nature have been lauded as ecological triumphs. But a new Michigan State University study shows that over time some ...

How cash can promote tropical forest conservation

Paying rural villagers to cut down fewer trees boosts conservation not only while the payments are being made but even after they're discontinued, according to a new CU Boulder study involving 1,200 tropical forest users ...

Are consumers ready to give augmented reality a try?

You might have gotten a taste of "augmented reality," the blending of the virtual and physical worlds, as you chased on-screen monsters at real-world landmarks in last year's gaming sensation, "Pokemon Go."

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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