Business

After explosive growth at Square, Chase launches own version

After watching the explosive growth at electronic payment start-ups like Jack Dorsey's Square, JPMorgan Chase has launched its own version to lure small business owners increasingly relying on technology during the pandemic.

Business

South Korea launches antitrust probe into Google

South Korea has launched an antitrust probe into Google over its plan to enforce its 30-percent Play Store commission by disallowing any apps circumventing its payment system, a top official said Thursday.

Business

Facebook gets reprieve from Apple on live events cut

Facebook said Friday it struck a deal in which Apple agreed to temporarily forgo its cut of revenue from paid events at the leading social network to help pandemic-hit performers earn money during the pandemic.

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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