Currency

If a payment is an object that is paid by a buyer to a seller, and we obtain in exchange a good or service. A payment may also be referred to as a medium of exchange, hence it is very nature of the means of exchange for goods such as metals, salt, spices or other substances that can be exchanged for goods or services. In Germany, by the year 1914, the Kurantmünzen were regarded as the common currency. Today, coins and banknotes are the common currency, even if the real value here is much lower than that of the purchased goods.

There are now many variations of electronic and kartengeschützten payments. This concerns only the so-called bank money. One of the common payment types today the cash, the Eurocheque card, debit cards, credit cards and bank transfers includes Standing orders or direct debits. In addition, each purchase or a specific payment method and currency are determined. This distinction is in advance, or the Nachkasse Buy barter. We speak of a legal tender, if one is obliged to their transfer under the law to fulfill the monetary obligation. In European countries, and thus also in Germany since January 2002, euro notes and coins become legal tender. Talk of the payment process, all forms and processes of transfer of ownership of cash meant.

Here are underneath all the possible payment of a cash payment up to the electronic payments. The classic payment methods include payment by cash, paper check and wire transfer. The electronic payment methods include all species in which the payment is made directly on electronic media, eg, credit card and debit payments.

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