Economics B A-Level
Payment systems
What Payment systems means in Economics B A-Level, as defined for Pearson Edexcel.
Definition of Payment systems
Check what you remember
Read the wording for your board, then hide it and explain Payment systems in your own words. Rough notes are fine. This is a self-check, with no mark or grade.
Reference: Pearson Edexcel
Efficient mechanisms such as debit cards, electronic bank transfers, clearing house automated payment systems (CHAPS) and digital wallets that allow transactions to occur swiftly and securely.
Topics that use Payment systems
- The role of the financial sector (Pearson Edexcel A-Level)
Related terms
- Capital allocation
- Credit rating agencies
- Financial intermediation
- International trade
- Liquidity
- Medium of exchange
- Saving and borrowing
- Systemic stability
Using Payment systems in the exam
Check the command word and mark scheme for your exact question. After comparing your explanation with the reference, use the term in an answer on the linked topic. This practice does not predict an exam mark.
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