1- Payment systems are systems that facilitate businesses and consumers to transfer funds to one another
2. What are the different types of payment systems
* Traditional Methods and Electronic Payments.
3. Electronic methods of payment have been defined as a method of transferring money according to electronic technology, thereby facilitating the exchange in a safe and fast manner at the lowest possible cost.
4. advantages of traditional payment is their simplicity and speed. With direct transfers or credit card payments, the buyer can complete the transaction quickly, making it suitable for small-scale purchases or immediate needs. Traditional methods also offer convenience, as they are widely accepted and integrated into various platforms and systems.