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Digital Payments

Definition

Using online tools or apps to pay and receive money quickly. Digital methods make transactions simple and fast.

What to consider

  • Verify mobile payment security.
  • Ensure user-friendly interfaces.
  • Keep up with evolving mobile payment technologies.

Real world scenarios

  • A food truck uses mobile payment apps to accept card payments on the go.
  • A boutique in a busy shopping district accepts mobile wallet transactions.
  • An entrepreneur enables mobile payments through QR codes at pop-up events.

Related terms

Competitor Research
Competitive Analysis
Business Tax
Small Business Administration (SBA)
Cash Flow Management

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