Payment instruments are tools or methods used to facilitate the transfer of money in transactions. Common examples include cash, credit cards, debit cards, and digital wallets. Each instrument has its own features, benefits, and limitations, making them suitable for different types of purchases and payment scenarios. In addition to traditional methods, electronic payment systems like PayPal and Venmo have gained popularity, allowing users to send and receive money quickly through their smartphones. These instruments enhance convenience and security, enabling consumers to make payments without carrying physical cash or checks.