payments systems

Payment systems are the methods and technologies used to transfer money for goods and services. They include traditional methods like cash and checks, as well as digital options like credit and debit cards, mobile payments, and online banking. These systems ensure secure, efficient transactions between buyers and sellers, often involving banks or payment processors as intermediaries. With the rise of e-commerce, payment systems have evolved to include cryptocurrency and digital wallets, making transactions faster and more convenient, while also focusing on safety and fraud prevention. Overall, payment systems facilitate the flow of money in our economy.