List Of Non-Cash Payments And Explanations

Illustration of non-cash payment tools (Unsplash/Clay Banks)

YOGYAKARTA - Thanks to technological advances, now payments can be made non-cash. Buyers and sellers now do not have to use physical money or cash to make payment transactions. There are various non-cash payment tools that can be chosen to facilitate transactions.

Non-cash payment tools help transaction activities become easier from various sides, ranging from time-efficient, energy, and cost. Moreover, this transaction mode supports each other with increasingly massive online buying and selling activities in the digital era. Automatically non-cash payments have become a habit or not new.

Now many people prefer to make non-cash payments. Whether it's for online purchases or direct purchases. With this payment system, you don't have to worry about the risk of loss and money damage. You just need to transfer the nominal bill online, then your balance will automatically decrease.

Non-cash payments are a transaction mechanism without using physical or conventional money. Non-cash payments can be made with the help of electronic or digital financial devices.

The forms of payment instruments are also diverse, ranging from card, paper, to digital. Here are some non-cash payment tools in Indonesia.

Debit cards are non-cash payment tools based on cards. Debit cards are non-cash payment media issued by banks when you open accounts and savings.

Debit cards are used for transactions in the form of balances. How to make transactions by inserting/swiping the card, then typing passwords. After that, the user can determine the nominal amount of the transaction to be transferred to the recipient.

Similar to debit cards, credit cards are card-based non-tube payment tools. This payment instrument is issued by the bank by implementing a debt system. It can be said that credit cards are cards for payment transactions by debt. Then bills will be paid or checked within a certain time.

Credit cards really help people who want to buy goods but the funds are still limited. With this card, you can buy these goods with lighter payments because they are in installments. So even if you don't have enough balance, users can still transact with predetermined nominal limits.

Prepaid cards are also a card-based non-cash payment tool. Prepaid cards are not related to bank accounts and do not implement a debt system. Prepaid cards contain balances that can be used with minimum limit terms. If the balance has run out, the user needs a top up to recharge the balance.

Non-cash payment tools that are currently trending or popular are used are e-wallets. E-wallet is a digital wallet for storing money in digital or electronic form. This payment tool is in great demand because of its convenience in transactions and attractive features offered.

Various e-wallets are usually connected orinkorn with various platforms. Online shopping. That way the transaction process becomes easier. Some of the e-wallets that are widely used by the public include DANA, OVO, Shopeepay, LinkAja, and others.

Mobile banking is also a widely used non-cash payment tool. Mobile banking is an online platform that is presented by the bank so that users can transact anywhere and anytime. Mobile banking offers applications that are comfortable to access using mobile phones.

Check is a paper-based non-cash transaction tool. Check issued by certain banks as a warrant to disburse a number of funds. Disbursement of funds based on the name written in the check, either customer or other person.

Another paper-based non-cash payment tool is giro. Giro has the same function as checking, which is an order on the bank. However, the giro is not used to disburse funds. Giro is used to move the budget from one's account to another customer listed on the giro.

Those are some non-cash payment tools that you can choose for easy transactions. There are three types of payment tools, but what is now popular and widely used is e-wallet. There are various e-wallets that you can choose according to the needs and features you want.

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