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Payments as a service (PaaS) is a marketing phrase used to describe software as a service to connect a group of international payment systems.The architecture is represented by a layer – or overlay – that resides on top of these disparate systems and provides for two-way communications between the payment system and the PaaS.
The following is a list of notable online payment service providers and payment gateway providing companies, their platform base and the countries they offer services in: (POS -- Point of Sale ) Company
The Clearing House Interbank Payments System (CHIPS) is a bank owned automated funds-transfer system for domestic and international high value payment transactions in U.S. dollars. It is a real-time final settlement payment system that continuously matches, off-sets and settles payments among international and domestic banks. [3]
[1] [2] A payment system is an operational network which links bank accounts and provides for monetary exchange using bank deposits. [3] Some payment systems also include credit mechanisms, which are essentially a different aspect of payment. Payment systems are used in lieu of tendering cash in domestic and international transactions. This ...
Vodafone was implicated in the violent suppression of pro-democracy protests in Egypt's 2011 demonstrations. On 27 January, Vodafone, responsible for much of Egypt's telecommunication infrastructure, shut off all voice and data services for Egyptian citizens and businesses at the request of the Egyptian Government under Hosni Mubarak. [248]
Vodafone Global Enterprise was established in April 2007 by Vodafone, to serve as a provider of IT and telecoms services to large corporate customers. [ 5 ] In October 2010 Vodafone Global Enterprise acquired two telecom expense management companies, paying US$6.9 million for Australia-based Quickcomm and $2.8 million for United States–based ...
M-PESA (M for mobile, pesa is Swahili for money) is a mobile phone-based money transfer, financing and micro financing service, launched in 2007 by Vodafone for Safaricom and Vodacom. M-PESA was originally designed as a system to allow microfinance-loan repayments to be made by phone, reducing the costs associated with handling cash.
A weak payment system may severely drag on the stability and developmental capacity of a national economy; its failures can result in inefficient use of financial resources, inequitable risk-sharing among agents, actual losses for participants, and loss of confidence in the financial system and in the very use of money.