payment system definition

payment system means a funds transfer system with formal and standardised arrangements and common rules for the processing, clearing and/or settlement of payment transactions;
payment system means a funds transfer system that facilitates the circulation of money, and includes any instruments and procedures that relate to the system.
payment system means a funds transfer system with formal and standardized arrangements and common rules for the processing, clearing or settlement of payment transactions;

Examples of payment system in a sentence

  • Payment can be expedited through the use of the Xxxxx One AP Control Payment System.

  • I If a landowner receiving a Contract payment is indebted to another Federal agency and the outstanding debt has been referred to the Treasury Offset Payment System, the Contract payment due to the landowner will be reduced by Treasury for the amount owed the U.S. Government.


More Definitions of payment system

payment system means a system that enables payment to be effected between a payer and a beneficiary, involving clearing, payment or settlement service or all of them.
payment system means a funds transfer system with formal standardized arrangements and common rules for the processing, clearing and/or settlement of payment transactions.
payment system means a set of instruments, banking procedures and typically, inter-bank funds transfer systems that ensure the circulation of money (BIS Red Book);
payment system means the legal entitiesthe credit institutions and/or mobile telephone operators, as well as other entities taking part in the acceptance and transfer of Payments under the contracts concluded with the Licensee.
payment system means a system that enables payments to be effected between a payer and a beneficiary;
payment system means any system or arrangement for the transfer, clearing or settlement of funds or securities;
payment system means any international card payment organisation whose logos and marks appear on a Card. “Personal Information” means: