Does this cover most payments over $600? They're now mostly all recorded? I don't understand the exceptions. So it applies to digital payment methods like Payp

Does this cover most payments over $600? They're now mostly all recorded? I don't understand the exceptions. So it applies to digital payment methods like Paypal, to payment networks like Western Union, but also to any credit card transaction over $600? edit: I think I was thinking of the payments in the wrong direction. The 1099-K applies primarily to the receiving party?