Payins entities

In this section, we will explore the nature of a payment and the different entities involved in making one.

The main parts of a payment are:

• Merchant: The entity that receives the payment for goods or services.
• Business: The entity that allows grouping related merchants.
• Payer: The person responsible for making the payment.
• Payment Instrument: The specific means used to carry out the transaction.
• Payment Information: Details such as currency, amount, date, time, among others.

Next, we will break down each of these entities to better understand their role in the payment process.