# Payment card transactions

# What is a payment card transaction?
A payment card transaction is a transaction where the user accepts a payment card for payment. A payment card may include any of the following:
* credit card
* debit card
* any stored-value or prepaid card, including gift cards
* any other card that is issued according to an agreement or arrangement that provides for all of the following.
  * One or more issuers of the cards
  * A network of persons unrelated to each other, and to the issuer, who agree to accept the cards as payment
  * Standards and mechanisms for settling the transactions between the merchant acquiring entities and the persons who agree to accept the cards as payment
An example of a payment card transaction is when a customer purchases goods from a merchant’s physical storefront using their credit card.
For more information, visit https://www.irs.gov/pub/irs-pdf/i1099k.pdf
**_This article is neither legal advice nor tax advice. We recommend that you speak to your tax advisor with any questions or concerns around tax reporting._**