A payment method refers to the way in which a customer pays for goods or services. Common payment methods include cash, credit cards, debit cards, and digital wallets like PayPal or Apple Pay. Each method has its own advantages and disadvantages, such as convenience, security, and transaction fees. Businesses often offer multiple payment methods to accommodate different customer preferences. For example, online retailers may accept cryptocurrency in addition to traditional payment options. Understanding various payment methods helps consumers make informed choices and ensures a smoother transaction process.