Sentence examples for medium of payments from inspiring English sources

In the form of coins or bullion, gold has occasionally played a major role as a high-denomination currency, although silver has generally been the standard medium of payments in the world's trading systems.

But, because money's anonymity obscures its provenance, it may be socially less acceptable as a medium of payment for some objects.

(3) In the case of Drawing Rights, the Fund uses currencies as subscribed by members to provide the medium of payment.

This effect is contrary to standard economic theory which says that essentially people make rational financial decisions based on cost and that the medium of payment should not influence this.

In an international gold-standard system, gold or a currency that is convertible into gold at a fixed price is used as a medium of international payments.

Gold is still accepted by all nations as a medium of international payment.

First, it can be used as an easy medium for payments (for a limited but growing number of transactions), which gold cannot replicate.

That got us to store of value, and now we're moving to medium of exchange (ie payment service provision for merchants and setting-up for transactional usage).

"Whether five-year rates can go even lower remains to be seen but for those that are lucky enough to qualify for such a deal and want security of payments over the medium term, products such as these should be grabbed with both hands," said Montlake.

A cashless payment eliminates the usage of money as a medium of exchange for goods and services by allowing electronic transfer payments or non-electronic payment via cheques.

"The system of payments is highly progressive.