Pay-As-You-Go is a payment model that allows users to pay for services or products as they use them, rather than committing to a long-term contract. This approach is commonly found in mobile phone plans, utilities, and cloud services, where customers can control their spending based on their actual usage. This model offers flexibility and can be cost-effective for those who may not need consistent access to a service. Users can easily adjust their spending by increasing or decreasing their usage, making it a popular choice for individuals and businesses looking to manage their budgets more effectively.