A payment is the act of transferring wealth into another person or company.

There are several forms of payment available. For example:

• Coin
• Money
• Check
• Direct debit
• Credit (finance)
• Bank transfer

In business and trade, a payment takes part as component in a broader and complex process, like a purchase, a contract. It is preceded by an invoice and may originate a receipt. The payment is made by the paying part in order to compensate the other part for the provision of goods, services, or both.

See also

• Trade
• Transaction
• Money
• Accounting
• Commerce
• Business

Generally Accepted Accounting Principles | Commerce | Business | Economics | Money

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