Payment Schemes

Payment schemes refer to the various methods and plans used to process financial transactions. They can include traditional options like cash, credit cards, and checks, as well as digital alternatives such as mobile payments and online transfer services. Some schemes involve installment plans, where payments are spread over time, while others may use subscription models with regular fees. The choice of payment scheme often depends on convenience, security, and cost-effectiveness, impacting both consumers and businesses in how they manage and accept payments for goods and services.