Payment system
Encyclopedia : P : PA : PAY : Payment system
A payment system is the procedures and associated computer networks used to settle financial transactions in bond markets, currency markets, and futures, derivatives and options markets, and 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 currency systems.
See also
- Automated Clearing House
- Clearing House Interbank Payments System (CHIPS)
- Direct Deposit
- National Automated Clearing House Association
External links
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