payment-card

Vocabulary Word

Definition

A 'payment card' is a tool for carrying out transactions, acting as a substitute for cash. It's like a portable virtual bank that fits within your wallet, allowing you to purchase items directly from your account.

Examples in Different Contexts

In finance, 'payment card' includes credit, debit, and prepaid cards used for transactions. A financial analyst might report, 'There's been an increase in payment card usage this quarter.'

Practice Scenarios

Accounting

Scenario:

Our current financial tracking mechanism needs enhancement. We need to ensure a streamlined management of our financial accounts.

Response:

Fully agreed, we'll enhance the system to ensure all payment card transactions are tracked and reconciled accurately.

Business

Scenario:

Please make sure the checkout counter is ready to handle all types of purchases. We need to facilitate smooth transactions.

Response:

I'll make sure our systems are updated to accept all types of payment cards to ensure a seamless checkout experience.