The way that a buyer chooses to compensate the seller of a good or service that is also acceptable to the seller. Typical payment methods used in a modern business context include cash, checks, credit or debit cards.

Alternative payments refers to payment methods that are used as an alternative to credit card payments. The most common alternative payment methods are debit cards, charge cards, prepaid cards, direct debit, bank transfers, phone and mobile payments, checks, and paytm.

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