Hi Tech & Innovation

Moscow metro launches face recognition payments

Moscow on Friday rolled out a facial recognition payment system in the city's metro system, part of a rapid expansion of the controversial technology in Russia.

Business

Epic seeks 'Fortnite' return on Apple's S. Korea App Store

Major US videogame developer Epic Games has asked Apple to restore its flagship game "Fortnite" on the South Korean app store after Seoul passed a law curbing the monopolistic power of platform operators, it said Friday.

Business

Apple plans to loosen App Store payment policy

Apple announced on Wednesday it will loosen some of its App Store policies, allowing media apps to steer customers directly to their websites without paying commission.

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Payment

A payment is the transfer of wealth from one party (such as a person or company) to another. A payment is usually made in exchange for the provision of goods, services or both, or to fulfill a legal obligation.

The simplest and oldest form of payment is barter, the exchange of one good or service for another. In the modern world, common means of payment by an individual include money, cheque, debit, credit, or bank transfer, and in trade such payments are frequently preceded by an invoice or result in a receipt. However, there are no arbitrary limits on the form a payment can take and thus in complex transactions between businesses, payments may take the form of stock or other more complicated arrangements.

In law, the payer is the party making a payment while the payee is the party receiving the payment.

This text uses material from Wikipedia, licensed under CC BY-SA