Payment systems are methods that allow individuals and businesses to transfer money for goods and services. These systems can include traditional methods like cash and checks, as well as electronic options such as credit cards, debit cards, and mobile payment apps. They facilitate transactions by providing a secure way to exchange funds, ensuring that both the buyer and seller can trust the process. In recent years, digital payment systems have gained popularity, with platforms like PayPal, Venmo, and Apple Pay making it easier to send and receive money instantly. These systems often use encryption and other security measures to protect users' financial information, making online transactions safer and more convenient.