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25-Mar-2020 05:55

The root word "pay" in "payment" comes from the Latin "pacare" (to pacify), from "pax", meaning "peace".

In the Middle Ages, the term began to be used more broadly, to mean "to pacify one's creditors".

The payee may compromise on a debt, i.e., accept a part payment in full settlement of a debtor's obligation, or may offer a discount, E.

Credit card, debit card, cheque, money transfers, and recurring cash or ACH (Automated Clearing House) disbursements are all electronic payments methods.

A barter payment requires a minimum of two parties (the purchaser and the seller).