Payment system

A payment system is a system (including physical or electronic infrastructure and associated procedures and protocols) used to settle financial transactions in 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.

[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

[edit] External links

• Central bank payment system information
• Publications on Payment System
• Online Payment Systems Directory

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