Quick summary
- Term
- Payment Method
- Plain-English definition
- A payment method is the card, bank transfer, wallet, or account balance used to pay for services.
- Technical definition
- A payment method is the card, bank transfer, wallet, or account balance used to pay for services.
- Commonly confused with
- account balance used to pay for services.
- Related terms
- Billing, Auto-Renewal, Invoice
Definition
A payment method is the card, bank transfer, wallet, or account balance used to pay for services.
Why it matters
Valid payment methods help prevent failed renewals and service interruptions.