The document discusses modern modes of payment such as UPI, Paytm, credit cards, and debit cards. It notes that these methods allow users to pay for items anywhere and anytime without needing to carry cash. The document then describes different types of modern payments in more detail, including QR code scanning, mobile payment apps like Paytm and PhonePe, bank transfers, and credit/debit cards. It explains how each method works and the differences between credit and debit cards.

1. NEWEST MODE OF PAYMENT
BY:-
PRIYAM RAJ
CLASS – VII B
ROLL NO. 26

2. HOW IT IS USEFUL?
The newest modes of payments like UPI,
Paytm, Credit card etc. help us to interact
with others. It is helping us to become
advanced. It helps us in paying money
anywhere and anytime. We can buy
anything that we want even if we are not
carrying any money. These new modes of
payments have made paying money faster
and easier.

3. TYPES OF MODERN PAYEMENTS
Online payment provides faster, easier and secure
way of money transfer. There are many types of
modern payments. Some of them are:
• QR Scan
• Mobile Payment Apps
• Bank Transfer
• Credit/Debit Cards

4. QR SCAN
A QR code is a type of barcode
that can be read easily by a
digital device and which stores
information as a series of pixels
in a square shaped grid. QR
codes are frequently used to
track information about
products in a supply chain and
often used in marketing and
advertising campaigns

5. MOBILE PAYMENT APPS
A Mobile payment is made
for a service through a
portable electronic device
such as mobile or tablet.
This technology can also be
used to send money to
family members, such as
with the apps like
Paytm, GPay, PhonePe etc.

6. BANK TRANSFER
Bank Transfer is a method of
electronic funds transfer from
one person to another. A bank
transfer can be made from one
bank account to another bank
account, or through a transfer
of cash at a cash office. Bank
transfer is also a secure
payment method There are
two types of bank transfers:
Domestic and International

7. CREDIT CARDS
A credit card is a type of credit
facility, provided by banks that allow
customers to borrow funds within a
pre-approved credit limit. It enables
costumers to make purchase
transactions on goods and services

8. DEBIT CARDS
A Debit card is a payment card
that can be used in place of cash
to make purchases. It lets you
spend money from your checking
account without writing a check.
When you pay with a debit card,
the money comes out of your
checking account immediately.
There is no bill to pay later.

9. DIFFERENCE BETWEEN A CREDIT CARD AND DEBIT CARD
CREDIT CARD
1. You borrow money from a lender
in order to make purchases with
credit.
2. You are responsible for paying
back purchases made with the
card.
3. Your credit limit determines how
much money you can use.
4. You can access a cash advance
from an ATM, but additional fees
may apply.
DEBIT CARD
1. You use the money in your bank
account to make purchases.
2. Payment is withdrawn from your
account once the merchant
approves your transaction.
3. Your bank account balance
determines how much money can
you use.
4. You can withdraw money from
ATM.

10. THANK YOU