Explain the usage of various payment instruments in goods and service transactions

Payment Instruments

3.6

Payment Instruments

INSTRUMENT	SITUATION FOR USE
Cash	Pay for items at shops with payment a counter. Bills payment.
Debit Card	Pay for items at shops with a payment counter. Pay at a petrol station. Cashless transaction. Money used is the money we had saved in our bank account.
Prepaid Card	Pay tolls. Ride public transport such as buses and trains. Money used it the money we topped up into the cards.
Credit Card	Pay for items at shops with a payment counter. Cashless transaction. Money used is the money we lend from banks.
Cheque	Donation. High-valued transactions.

Payment Instruments

3.6

Payment Instruments

INSTRUMENT	SITUATION FOR USE
Cash	Pay for items at shops with payment a counter. Bills payment.
Debit Card	Pay for items at shops with a payment counter. Pay at a petrol station. Cashless transaction. Money used is the money we had saved in our bank account.
Prepaid Card	Pay tolls. Ride public transport such as buses and trains. Money used it the money we topped up into the cards.
Credit Card	Pay for items at shops with a payment counter. Cashless transaction. Money used is the money we lend from banks.
Cheque	Donation. High-valued transactions.