Types of payment method and its types method

Payment method

1. TYPE OF PAYMENTS OPTIONS

2. There are several types of payment methods, each suited to different needs and contexts Introduction

3. Cash Payments Oveview Cash Payments Cash transactions involve the use of physical currency, offering immediate, tangible value. Despite the rise of digital alternatives, cash remains a widely accepted and preferred choice, especially for small transactions and situations where electronic means may not be feasible. Its widespread acceptance and the fact that it allows for private transactions are the reasons why cash continues to be commonly used.

4. Pros of Cash Payments Advantages of Cash Payments Privacy Independence From commercial banks No negative interest No online theft Less overspending Low costs for merchants

5. Hygiene concerns Risk of loss Less convenience More complicated currency exchanges Undeclared money and counterfeiting Disadvantages of Cash Payments Cons of Cash Payments

6. Credit Cards Overview Credit Cards Overview A credit card is a payment card, usually issued by a bank, allowing its users to purchase goods or services, or withdraw cash, on credit . Using the card thus accrues debt that has to be repaid later. Credit cards are one of the most widely used forms of payment across the world.

7. Debit Cards Overview Debit Cards Direct payment from bank account. No borrowing involved, funds deducted immediately.

8. Advantages of Credit/Debit Cards Credit & Debit Cards: Pros Convenient, secure, widely accepted. Rewards and cashback for credit cards

9. Disadvantages of Credit/Debit Cards Credit & Debit Cards: Cons Fraud risks, potential fees. High-interest rates for unpaid credit card balances.

10. Payments made through mobile apps like Apple Pay, Google Pay, and Samsung Pay. Popular for contactless transactions. Mobile Payment Systems Overview Mobile Payment Systems

11. Pros and Cons of Mobile Payments Mobile Payments: Pros & Cons Pros: Convenience, security, speed. Cons: Requires smartphone, not universally accepted. Visuals: Split screen showing pros and cons.

12. Online Payment Gateways Online Payment Gateways Third-party services for processing online payments (e.g., PayPal, Stripe). Visuals: Payment gateway logos

13. Pros and Cons of Online Gateways Online Gateways: Pros & Cons Pros: Secure, convenient for online shopping. Cons: Transaction fees, reliance on third-party services.

14. Bank Transfers Overview Bank Transfers Direct transfer between bank accounts (ACH, wire transfers, SEPA). A bank transfer is a payment method that allows consumers and business owners to transfer money to a bank account. For business owners this will typically happen when you are looking to transfer money from sales related to your business to a business bank account.

15. Pros and Cons of Bank Transfers Bank Transfers: Pros & Cons Pros: Secure for large payments, international reach. Cons: Slow, may involve fees for international transfers.

16. Cryptocurrencies Overview Cryptocurrencies Decentralized digital currencies (e.g., Bitcoin, Ethereum) Bitcoin:- Bitcoin (BTC) is a cryptocurrency (a virtual currency) designed to act as money and a form of payment outside the control of any one person, group, or entity. This removes the need for trusted third-party involvement (e.g., a mint or bank) in financial transactions. Ethereum :-Ethereum is a decentralized blockchain platform that establishes a peer-to-peer network that securely executes and verifies application code, called smart contracts.

17. Pros and Cons of Cryptocurrencies Cryptocurrencies: Pros & Cons Pros: Decentralized, secure, ideal for international payments. Cons: High volatility, not widely accepted yet.

18. Conclusion & Future Trends Conclusion & Future Trends Every payment method has its own importance and we should use it according to the situation Trends toward digital and mobile-first payment solutions

19. Thank You :)