A payment is the transfer of money from one party to another. A payment is usually made in exchange for the provision of goods, services or both, or to fulfill a legal obligation. The simplest and oldest form of payment is barter, the exchange of one good or service for another. In the modern world, common means of payment by an individual include money, cheque, debit, credit, or bank transfer, and in trade such payments are frequently preceded by an invoice or result in a receipt. However, there are no arbitrary limits on the form a payment can take and thus in complex transactions between businesses, payments may take the form of stock or other more complicated arrangements. In law, the payer is the party making a payment while the payee is the party receiving the payment. Wikipedia [ - ]

A payment is the transfer of money from one party to another. A payment is usually made in... [ + ]