What is a Payment Method?

Use the Payment Method module to edit and create payment methods (Visa, Cash, etc.).

Payment Methods Description
Cash Cash is money in the physical form of currency, such as bank notes or coins.
Cheque A cheque is a negotiable instrument instructing a financial institution to pay a specific amount of a specific currency from a specified demand account held in the maker/depositor’s name with that institution.
Credit Card Purchasers can use credit cards to buy goods based on the card holder’s promise to pay for these goods and services.
Debit Card A debit card is also known as a banking card, check card, or ATM card. It is used as an alternative to cash when making purchases; the funds for a debit card purchase are withdrawn directly from the bank account. Only Signature (or PIN-less) debit cards that have a Visa or Mastercard logo may be used.
E-Cheque ECheck is a digital version of a paper check and is also known as an electronic check, online check, internet check, and direct debit. EChecks use the Automated Clearing House (ACH) to direct debit from a customer’s checking account into a merchant’s business bank account, with the help of a payments processor.
Gift Card gift card is also known as a gift certificate, or gift voucher, or gift token, is a prepaid stored-value money card, usually issued by a retailer, to be used as an alternative to cash for purchases within a particular store or related businesses.
Interac Debit Interac Debit is a secure and convenient payment option that allows your customers to make purchases securely and conveniently with funds directly from their bank account.
  Other                  Use this option for payment methods other than any of the above methods.


See the video tutorial below for creating a Payment Method:

Read here on different Payment Gateways in Xoro

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