Methods of Payment

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Across
  1. 6. Technology that allows individuals to make payments without inserting a pin
  2. 8. Includes notes and coins of different amounts (denominations).
  3. 9. an agreement by the owner of the bank account and their bank to allow a third-party to withdraw a fixed sum of money from their account on a certain date.
  4. 11. A card that has money that has already been transferred onto it.
  5. 12. Clearing House Automated Payment System
  6. 14. Issued by financial institutions to enable customers to delay payment on goods and services for a certain period of time. They are different from a credit card as the balance has to be paid in full once the statement has been received.
  7. 15. A written document instructing the bank to make a payment from one person’s bank account to another.
Down
  1. 1. An agreement for a bank to allow a third-party to take out a sum of money, as a recurring payment (made at a constant time), from an individual's bank account. The amount taken each month can be variable.
  2. 2. Similar to credit cards but it can only be used in certain stores.
  3. 3. Bankers' Automated Clearing System
  4. 4. The ability to complete financial transactions on mobile devices and internet connected computers.
  5. 5. Card issued by a bank that directly charges the individual's current bank account when purchasing goods and services.
  6. 7. Faster Payment System
  7. 10. When financial payments are electronically transferred from one bank account to another.
  8. 13. Issued by financial institutions which allow customers to buy goods and services on a buy-now pay later basis