# Payment card transactions

Payment card transactions are transactions where the user accepts a payment card for payment. For example, when a customer purchases goods from a merchant’s physical storefront using their credit card.
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
For more information, visit the IRS [Instructions for Form 1099-K.](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._**