Retail Payments

Overview

• Cash - exchange of money issued by a central bank.
• Check (Negotiable Instrument) - an instruction to a bank to transfer funds to the bank account of the holder of the check, or to give her cash.
• Card Based - an electronic transaction that can function like a check, or where payment from the issuer of the card to the recipient is made, and the holder of the card enters a credit agreement to pay the issuer at some later date.