Payment Instruments

Mathematics

Not quite remember

I easily remember

Payment instruments

Cash, debit card, credit card, internet banking, prepaid card, e-wallet, cheque, postal order

Cash

Direct payment using notes and coins

Debit card

Payment through saving account using card

Credit card

Spend first and then pay later to the bank and card issuer such as supermarkets

Internet banking

Payment of transactions and services through an online account using the Internet

Prepaid card

Payment is made using existing cash balance using top-up service

e-wallet

Cashless payment using applications in an electronic device

Cheque

Written order to a bank to pay the stated amount of money

Postal order

Represent cash to be sent to a specified payee issued by the post office

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