Economics A-Level
Payment system
What Payment system means in Economics A-Level, as defined for AQA.
Definition of Payment system
Check what you remember
Read the wording for your board, then hide it and explain Payment system in your own words. Rough notes are fine. This is a self-check, with no mark or grade.
Reference: AQA
Essential infrastructure, such as debit card processing and electronic transfers, allowing economic agents to settle daily transactions securely and efficiently.
Topics that use Payment system
- Commercial banks and investment banks (AQA A-Level)
Related terms
- Commercial banks
- Credit creation
- Financial intermediation
- Financial markets
- Investment banks
- Liquidity
- Liquidity vs Profitability
- Market participants
Using Payment system 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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