Tooltip Tags: payment instruments

traveller’s cheque

A travellers cheque is a check that is issued by a financial institution that can be used as a form of payment. Travellers cheques are

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standing order

A standing order (or a standing instruction) is an instruction a bank account holder («the payer») gives to his or her bank to pay a

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smart card

Any pocket-sized card with embedded integrated circuits. (source: http://en.wikipedia.org/wiki/Smart_card)

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revolving credit card

System of retail credit in which the buyer makes periodic payments to an account to which his purchases and service charges have been debited. The

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promissory notes

A promissory note is a financial instrument that contains a written promise by one party (the note’s issuer or maker) to pay another party (the

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prepaid card

Monetary value on a card not in an externally recorded account and differs from prepaid cards where money is on deposit with the issuer similar

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postal order

Document bought at a post office, used as a method of paying small amounts of money by post. (source: http://www.investorwords.com/10663/postal_order.html#ixzz2M1gTSaLY)

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payment systems

The infrastructure (consisting of institutions, instruments, rules, procedures, standards,and technical means) established in effect the transfer of monetary value between parties discharging mutual obligations. Its

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