Payment: Difference between revisions
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An amount of money paid. | |||
1. | |||
Defined broadly, payment refers to the payor’s transfer of a monetary claim on a party acceptable to the payee. Typically, claims take the form of banknotes or deposit balances held at a financial institution or at a central bank. | |||
2. | |||
The term is also defined more strictly for certain accounting and tax purposes, where the exact timing of payments - for example either within or outside of a given tax calculation period - may be essential for the determination of tax liabilities and tax reliefs. | |||
== See also == | == See also == | ||
* [[Pay ]] | *[[Committee on Payments and Market Infrastructures]] (CPMI) | ||
* [[Digital payment]] | |||
* [[Discharge]] | |||
* [[Emerging Payments Association]] | |||
* [[Frictionless payments]] | |||
* [[Pan-African Payment and Settlement System]] (PAPSS) | |||
* [[Pay]] | |||
*[[Payment infrastructure]] | |||
* [[Payment rail]] | |||
* [[PSOR]] | |||
* [[Receipt]] | |||
* [[Remittance]] | * [[Remittance]] | ||
* [[Payment factory]] | |||
[[Category:Financial_products_and_markets]] | |||
Latest revision as of 05:24, 1 November 2024
An amount of money paid.
1.
Defined broadly, payment refers to the payor’s transfer of a monetary claim on a party acceptable to the payee. Typically, claims take the form of banknotes or deposit balances held at a financial institution or at a central bank.
2.
The term is also defined more strictly for certain accounting and tax purposes, where the exact timing of payments - for example either within or outside of a given tax calculation period - may be essential for the determination of tax liabilities and tax reliefs.
