Electronic Payment
/ɪˌlɛkˈtrɒnɪk ˈpeɪmənt/
Definitions
- (n.) A financial transaction conducted through an electronic medium to transfer funds.
The contract specified that all electronic payments must be cleared within three business days.
- (n.) A legally recognized method of payment facilitated by technologies such as credit cards, mobile wallets, or online banking.
Electronic payments have been integrated into the company’s accounting system for efficiency.
Forms
- electronic payment
- electronic payments
Related terms
See also
Commentary
Electronic payments often require adherence to specific regulatory frameworks governing digital transactions and consumer protection.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.