Goods and services must be paid for. Although barter may be acceptable between individuals, within business, methods for paying for goods are strictly limited by law. These methods, and their definitions are:
Cash
The legal tender of the country you are in
Cheque
Written order from a customer to his bank to pay the amount specified
Credit Transfer
The bank is authorised to transfer money from the purchaser's account to the vendor's. Includes automatic payments(standing orders), direct debits and tele-banking or internet banking transactions. Automatic Payments or Standing Orders are used to pay regular, consistent sums, and direct debit or customer controlled credit transfers such as tele or internet banking, where the sum being paid varies.
Electronic Funds Transfer
Electronic transactions handled by use of plastic cards, in conjunction with eft-pos and ATM machines, where money is debited directly from the account of the customer and credited to the account of the vendor
Foreign Currency
The legal tender of a country other than the one you are in at the time
Credit Card
A card issued by a financial services institution to allow the holder to buy goods on credit
Travellers Cheque
A bank order to pay on demand the sum required in the currency of the country a person is in, used for travelling overseas
Prepaid voucher
Items such as record tokens, book vouchers, where the cash value of the item has been pre-paid