Glossary

Deutsch: Zahlung / Español: Pago / Français: Moyen de paiement / Italiano: Pagamento
A payment is the transfer of an item of value from one party (such as a person or company) to another in exchange for the provision of goods, services or both, or to fulfill a legal obligation.

In the industrial context, payment generally refers to the exchange of money or other forms of compensation for goods or services. Here are some examples of how payment is used in industry:

1. Point-of-sale payment: Point-of-sale (POS) payment refers to the transaction that occurs when a customer purchases a product or service from a business. Payment is typically made using a credit card, debit card, or cash, and the transaction is processed through a POS system.

2. Online payment: Online payment refers to the process of paying for products or services over the internet. This may involve the use of credit cards, electronic checks, or other forms of online payment systems, such as PayPal or Apple Pay.

3. Invoicing and billing: Invoicing and billing refers to the process of sending a bill or invoice to a customer or client for products or services rendered. Payment is typically expected within a specified timeframe, and may be made by check, electronic transfer, or other forms of payment.

4. Trade credit: Trade credit is a form of payment in which a business allows another business to purchase goods or services on credit, with payment due at a later date. This form of payment is commonly used in business-to-business transactions.

5. Payment processing: Payment processing refers to the backend process that occurs when a payment is made, including the authorization, authentication, and settlement of the transaction. Payment processing is typically handled by specialized companies or software systems, such as Square, Stripe, or PayPal.

6. Automatic payments: Automatic payments refer to the process of making recurring payments, such as monthly bills or subscriptions, automatically through a bank account or credit card. This form of payment is commonly used in industries such as telecommunications, utilities, and software-as-a-service (SaaS) businesses.

Overall, payment is a critical component of the industrial landscape, and it plays a crucial role in the exchange of goods and services. From POS systems to online payments to invoicing and billing, payment takes many different forms and is an important consideration for businesses of all types and sizes.