Payment Methods. Essay

709 words - 3 pages

Summary of Reasons.5 People were interviewed during this assignment. Ms. Stavros, Mr. Brennan, my mother, my brother and my uncle. Most people picked EFTPOS as their most common form of payment because it was easier to use and it was easy to carry than notes and other forms of payment.Ms. Stavros picked cash as her most common choice because it is a more accessible and acceptable way to pay. She chose Cheques as her least common form of payment because she only uses it for large sums of money and bills. Ms. Stavros also uses a credit card to pay for some of her things.Mr. Brennan chose debit cards as his most common form of payment. He chose this form because it takes money directly from his bank account instead of using credit and it is easier to carry around. For his least common use of payment he chose cheques because there is complicated and there is too much involvement of the other person with the money. Mr. Brennan also uses cash and a visa card.My Brother selected credit as his most common form of payment option. He selected this because it is an easier way to get what you want and pay later. For his least common form of payment he chose money order because he only uses it when he wants to pay for things on e-bay or when he buys things over the phone. My brother also uses cash and debit cards.My mother picked EFTPOS as her most common form of payment because it allows her to buy things faster and the money comes out from her account not any credit suppliers. For her least common form of payment she chose credit because she doesn't want to pay for the pay interests rates when she gets the credit bill. My mother also uses cash as another form of payment.My uncle uses EFTPOS as his most common form of payment because it only takes money from his account and it's easier to carry. He chose cash as his least common form of payment because he doesn't like to carry a packed wallet when he is going out to buy...

Find Another Essay On Payment Methods.

Digital Cash Can Never Work Essay

1190 words - 5 pages represents an absolute loss of control and safety because information protects us all. [FN 1] For a discussion of the various payment methods proposed and the entities involved see: Udo Flohr, Cash, checks and coupons are all going digital. Here are the technical underpinnings of tomorrow’s legal tender, Byte, June 1996. On the Internet at:; and A. Michael Froomkin, Flood Control on the Information Ocean

Bid Cost Minimization Essay

1136 words - 5 pages Abstract—Most Independent System Operators (ISOs) adopt the Bid Cost Minimization (BCM) to select offers and their respective generation levels while minimizing the total bid cost. It was shown that the customer payment costs that result from selected offers can differ significantly from the customer payments resulting from the Payment Cost Minimization (PCM), under which payment costs are minimized directly. In order to solve the PCM in the

Innovation of payment cards

3464 words - 14 pages through websites, scam marketing and phone scams. Most of these methods seem very legitimate and the clients and businesses are compelled to use their credit card to make purchases for goods or services. By the time the clients know that they have been scammed, the transactions cannot be reversed (VISA, 2013). Economic Impact of Payment Cards Leading economist Moody’s Analytics conducted a study of the impact of payment cards on economy that

Controversial issue of Co-payment

1789 words - 7 pages Introduction Australia has one of the most successful health systems in the world. General practitioners are the central role of the flourishing health system and impact greatly on it as GPs lead primary health care system which is very imperative for the health of communities and keeps people well-being. Nowadays a controversial issue of a co-payment of $5 to see a GP is proposed by Tony Abbot Government. The government is considering

Managing Short term & Long Term Financial Resources

3981 words - 16 pages policy & inventory control policy. Supplier Credit will slow down the outflow of company fund too early by obtaining credit term from suppliers.Credit Control Policy will minimize the risk of bad debts & payment delinquencies from customers at the same time accelerate the payment from customers.Inventory control policy will help to assure our resources & company capital not to be frozen up in the warehouse as dead or slow moving stock. On

The Electronic Check Placement (ECP)

2768 words - 11 pages IntroductionPast twenty years, people have witnessed the prosperity of the finance and bank industry due to the deregulation of governments and more innovative products in the markets. However, even though more and more people now use electronic methods such as online banking, credit card, debit card, pre-approval payment, and pre-authorized debit to pay their bills, the check still plays an important role in Canada’s payment system

electronic payment social commerce

2735 words - 11 pages , cryptography and telecommunications. However, in this study, e-payment refers to all electronic transactions as payment for goods and services. An electronic payment transaction is an execution of a protocol by which amount of money is taken from a payer and given to a payee (Akhilesh, Abhishek, Suresh, Satish, & Priyanka, 2013). There are two electronic payment methods, credit cards and alternative payments. Alternative payments include automated

PayPal, Inc. Initial Public Offering

962 words - 4 pages . CertCo claimed that the PayPal system violated its patent for a method for making payment and transactions in an electronic payment system. This "bump in the road" as it was termed by John Fitzgibbon, editor of IPODesktop caused major headaches for PayPal. They were unable to comment on the lawsuit due to securities regulations that restrict a company's ability to make public statements prior to a stock offering and had to ultimately refile its

Electronic Portfolio

9725 words - 39 pages banking system than credit (or even debit) cards. No experience in Europe has yet shown a high level of profit for the electronic purse. An explanation for this poor track record might be found in the way the public sees cash transactions: these are perceived as without any cost to society at large. The general public considers the use of coins and banknotes as less expensive than other payment methods. As a result, the price the public is ready to

Dexit - A Marketing Opportunity

3134 words - 13 pages SummaryDexit is a new electronic payment system that designs for low-value transactions. Based on Radio Frequency Identification (RFID) technology, customers can use a small electronic tag to pay for goods and services without entering password on a specialized reader at the retail stores, which is obviously faster than any other payment methods, such as cash, debit cards and credit cards. With this high reliable and convenient payment system

ebay Inc.

1237 words - 5 pages accessible Impact: Reduce current and future revenges and hurt customers’ businesses Recommendation: Improve system monitoring and provide adequate notice System failures lead to unavailability of many of eBay’s services like PayPal and Skype. eBay Inc. acquired PayPal in 2002. Since then, PayPal's customer base has grown both on eBay and across e-commerce (cite). eBay use PayPal for one of their payment methods online. System failures for long

Similar Essays

Comparing Three Methods Of Physician Payment In Ontario

2029 words - 8 pages conduct a cost benefit analysis of the three underlying methods that are either used solely or blended together to pay physicians in Ontario. It will compare and contrast Fee for service, capitation, and salary model. This paper will explore the impact of these models on quality and quantity of the primary health care system. Fee for Service Fee for Service is the most common and also the most accused method of payment. With this method

Out Patient Prospective Payment Essay

1417 words - 6 pages be the new form of physician compensation. Bundle Payment is a way for paying for high volume, high cost hospital procedures. Global payment enables providers to reduce unnecessary care and bring down spending under control but creates incentives for providers to restrain the supply of services. PHYSICIANS AND OUTPATIENT MEDICARE METHODS OF PAYMENTS 3

R Isks Associated With International Trade Essay

935 words - 4 pages . Arguably, no part of export is more important than transfer risk.METHODS OF PAYMENT AND INSTRUMENTS OF TRADE FINANCE Finance institutions and banks internationally have recognised common trade problems and have devised financial instruments and various different methods of payment to directly address international trade problems and credit risks.Methods of payment fall into four categories: 1. Clean Payment 2. Documentary Collection 3. Documentary

Cash And Accrual Paper

1003 words - 4 pages $10 million dollars a year to utilize the cash method accounting. Businesses of smaller magnitudes voiced their concerns with the accrual methods of accounting not fitting within their business structure. Since cash method accounting requires both incoming and outgoing transactions to be recorded when the transactions occurs, bank interest, payment with property, payment with services, and debts that are bartered are also required to be recorded