Aside from payments made with cards, there are also electronic ways to transfer money, e.g., via direct debit, SEPA, IBAN, or wire transfers. More generally, payments are either push or pull, which is what we summarize in the following table.
Clients authorize merchants to pull money, or they push it
|Push||Client pushes the money to the merchant.|
|Pull||Merchant pulls money from client’s account; to do so it requires prior authorization from client.|