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A Systemically Important Payment System (SIPS) is a payment systems whose failure could potentially endanger the operation of the whole economy. In general, these are the major payment clearing systems or real-time gross settlement systems of individual countries, but in the case of Europe, there are certain pan-European payment systems.
A payment system is any system used to settle financial transactions through the transfer of monetary value. This includes the institutions , payment instruments such as payment cards , people, rules, procedures, standards, and technologies that make its exchange possible.
A net settlement is a payment system used for inter-bank transactions. [dubious – discuss] It is the process by which banks calculate the collective total of all transactions through designated times each day. [1] [2] [3]
These include a number of Real-time gross settlement (RTGS) systems such as the High-Value Payment System in China, T2 in the euro area, CHAPS in the United Kingdom, and Fedwire in the U.S. Other central bank-operated infrastructures include the China Foreign Exchange Trade System (CFETS) in China, [7] or TARGET2-Securities in the euro area and ...
العربية; Aragonés; Azərbaycanca; বাংলা; Башҡортса; Беларуская; Беларуская (тарашкевіца) भोजपुरी
A payment processor is a system that enables financial transactions, commonly employed by a merchant, to handle transactions with customers from various channels such as credit cards and debit cards or bank accounts. They are usually broken down into two types: front-end and back-end.
The nationwide acceptance infrastructure is the largest in Singapore and includes 54,000 Unified Point-of-Sale (Unified POS) terminals and 94,000 QR acceptance points. In 2011, NETS’ debit system was designated as national payment system by the Monetary Authority of Singapore (MAS).
A payment card number, primary account number (PAN), or simply a card number, is the card identifier found on payment cards, such as credit cards and debit cards, as well as stored-value cards, gift cards and other similar cards. In some situations the card number is referred to as a bank card number. The card number is primarily a card ...