What is Retail Payment in Income Statement?

Answer 1

RETAIL PAYMENT SYSTEMS OVERVIEW
Retail payments usually involve transactions between consumers and businesses. Although there is no definitive division between retail and wholesale payments, retail
payment systems generally have higher transaction volumes and lower average dollar values than wholesale payments systems. This section provides background information
on payments typically classified as retail payments. Consumers generally use retail payments in one of the following ways:
• Purchase of Goods and Services—Payment at the time the goods or services are purchased. It includes attended (i.e., traditional retailers), unattended (e.g., vending machines), and remote purchases (e.g., Internet and telephone purchases). A variety of payment instruments may be used, including cash, check, credit, or debit cards.

Based on the above, it would appear that retail payments represent sales or revenue in your income statement as it would seem odd to describe your purchases as retail payments since most businesses pay their vendors by cheques.

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