CSEC Principles of Business  /  The nature of business  /  Ways to pay: cheques, cards and mobile money

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Ways to pay: cheques, cards and mobile money

An instrument of payment is any means of settling a debt without handing over cash: a cheque, a card, a transfer, a phone wallet. Paper 1 asks which cheque pays cash on demand and what a post-dated cheque is almost every year.

By the end of this page you can

  • Name the drawer, drawee and payee on a cheque and read its details
  • Tell open, crossed, certified, banker’s, post-dated and stale cheques apart
  • Choose the right instrument to pay someone, near or far
  • Explain why a bank dishonours a cheque

Goals tick themselves off as you try the activities below.

A hand-held card machine whose screen shows an amount of 4.55 and the words insert, swipe or try another card, above a tap-to-pay symbol and a keypad.

Photo: Daylon124, CC0, via Wikimedia Commons. Cropped, the maker’s logo and model number blurred, resized, JPEG q72.

One machine, three ways to pay: insert a chip card, swipe it, or tap a card or phone.

How often it shows up in past papers

All papers20 of 23 papers
Last 53 of 5 · 2023–2026

Paper 1 counts come from our past-paper bank of CSEC Principles of Business Paper 1s. The last-5 row shows how often it came up in the five most recent papers.

Inside this topic

  1. Three ways to payLocked
  2. Kinds of chequeLocked
  3. Key termsLocked
  4. Test yourselfmarkedLocked
  5. Practise for real · 24 past questionsLocked