The payment system is an operational network – governed by laws, rules and standards – that links bank accounts and provides the functionality for monetary exchange using bank deposits. The payment system is the infrastructure (comparised of institutions, instruments, rules, procedures, standards,and technical means) established in effect the transfer of monetary value between parties discharging mutual obligations.
You may also like
About the author
Information to enrich your life.
WELCOME TO RICHTOPIA
- 2,566,331 all-time users
- 11 Amazing Examples of Disruptive Technology
- 17 Great Examples of Effective Leadership and Strategy
- What Is Social Marketing? And How Does It Work?
- British Entrepreneurs Top 100: From Richard Branson to J.K. Rowling, These Are the Most Influential Entrepreneurs in the UK
- Economists Top 100: From Joseph Stiglitz to Michael Porter, These Are the Most Influential Economists in the World
- Workplace Culture: How to Encourage Collaboration
- Five Fundamental Principles From Adam Grant's "Give and Take" Book
- Analytical Thinking: 8 Natural Talents Leading to Action
- Amy Cuddy: Profile of a Body-Language Hacker (Including Top 10 Tips)