Difference between revisions of "Payment"
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Definition
Payment. Delivery of Money in fulfillment of an obligation, such as to satisfy a claim or Debt.
Payment is a means of settlement for a commercial or other obligation, such as an electronic credit transfer, direct debit, credit or debit card payment, wire transfer, automated clearing house payment (ACH), check or cash. The payment is completed when good funds are received by the creditor
See Also
- Barron's Dictionary of Business and Economics Terms, Fifth Edition, 2012
