Payment System

A payment system refers to the methods and processes that facilitate the transfer of money between individuals or organizations for goods and services. This can include cash transactions, credit and debit cards, mobile payments, and online payment platforms. Payment systems also involve the networks and technologies that allow these transactions to occur securely and efficiently, such as banks, payment processors, and digital wallets. Essentially, it enables buyers to pay sellers in a convenient and reliable way, ensuring that funds are exchanged safely and accurately.