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payment methods - Coggle Diagram
payment methods
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cash
advantages of cash
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another reason why people might prefer to pay by cash is to help them budget, that is to control the amount they spend
disadvantages of cash
the transaction is not made face to face with the seller- people cannot pay by cash when they goods or services over the internet, by mail order or by telephone.
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paying by cash is less convenient than other methods- this may be because of the location of the seller
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Cheques
A cheque is a payment mechanism that enables an account holder to instruct their
provider to pay a specific amount of money to a specific person or organisation.
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CHAPS
CHAPS (Clearing House Automated Payment System) is a same-day automated
payment system used for very high value payments.
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