Definiton- A set and forget type of payment that will continue until the final payment date is reached

What type of payment is it used for?- To pay a reoccuring bill

Advantages- pre-set, convenient

What type of payment is it used for? To pay bills like electricity or phone bill

Advantages- Guarantees payment on the due date, you don't have to remember to pay the amount due

Definiton- A card that allows people to borrow funds, but thosehave to be paid back. If not paid back it becomes interest

Disadvantages- Losing track of payments,some companies may charge a fee

Disadvantages- The business can take out payments even if there are charges that you disagree with, If you don't have enough money for the bill you will be charged with a fee

What type of payment is it used for?- Make purchases when you may not cash ready

Advantages- if you need money in emergencies, not using your own money, convienent,

Disadvantages- Credit card costs more than cash, have to pay back with interest

Definition- A method of banking in which transaction are conducted electronically via the internet

What types of payment is it used for?- a range of financial distractions

Advantages- convenient if no ATM's are near you, pay bills online, secure, simple to use,set up in advance

Disadvantages- Might go offline, Not completely secure,

What type of payment is it used for? A range of financial transactions

Definition- A system of deposit to secure an article for later purchase

What types of payment is it used for?- Anything that you can buy later

Advantages- You can hold it until you have money, you can do it over a period of time

Advantages- Protect yourself, View your online transactions

Disadvantages- If you buy an item on layby it could go on sale down the road

Disadvantages- You need to have Iphone 6 and up to use it, Higher fees.

Advantages- Payment terms are flexible, Does not oblige the company to keep equipment

Disadvantage- Its a higher price, Its heavy risk if you hire to many things

Definition- A debit card allows you to access available funds in your account to make purchases using eftpos

What types of payment is it used for?- Usually used to instantly withdrawl cash

Advantages- you don't have to have cash on you 24/7

Disadvantages- System can be offline, if you forget your pin you have no access