Payment system
From Wikipedia, the free encyclopedia
A payment system is a system (including physical or electronic infrastructure and associated procedures and protocols) used to settle financial transactions in Automated teller machine networks, Stored-value card networks, bond markets, currency markets, and futures, derivatives, or options markets, or to transfer funds between financial institutions. Due to the backing of modern fiat currencies with government bonds, payment systems are a core part of modern monetary systems.
Also, Electronic Payment is a subset of an e-commerce transaction to include electronic payment for buying and selling goods or services offered through the Internet.
[edit] See also
- Real Time Gross Settlement
- Clearing house
- Clearing
- E-commerce payment systems
- Automated Clearing House
- Clearing House Interbank Payments System (CHIPS)
- Direct Deposit
- Interbank Network (ATM / EFT / POS)
- NACHA-The Electronic Payments Association
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