Methods of Payment: Pros and Cons

This form of payment is most accessible to all people. That is, if we stores/merchants go without it, they may be contributing to an economy that's not "inclusive" of all people.

• cash

• debit card

• credit card

• cheques

• crytpocurrency

Using this instead of cash "doesn't connect to our brains in the same way", claims Bruce Sellery, a financial expert. "When people pay with cash, they spend about 20% less" than using this.

• digital wallet

• e-transfer

• credit card

• cheques

• crytpocurrency

When a friend says "Venmo me", he/she is referring to the use of a ....

• digital wallet

• e-transfer

• credit card

• cheques

• crytpocurrency

This form of payment is helpful to those who wish to keep track of their spending "on paper" since they often come with a "register" that encourages tracking/recording spending using them.

• digital wallet

• e-transfer

• credit card

• cheques

• crytpocurrency

This form of payment comes with "a grace period before payment is due."

• digital wallet

• e-transfer

• credit card

• debit card

• cheques

Using this form of payment requires a recipient's email address or mobile phone #.

• digital wallet

• e-transfer

• credit card

• debit card

• cheques

A disadvantage of this form of payment is that it has no value set by law - it is worth what people are willing to pay for it in the market.

• digital wallet

• e-transfers

• debit cards

• crytocurrencies

• cheques

When using this form of payment, you should be aware of the interest rates applied on outstanding balances (what you need to pay).

• digital wallet

• e-transfers

• credit cards

• crytocurrencies

• chequing accounts