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

• Within a non-extendible period of five (5) calendar days from receipt by the Bidder of the notice from the BAC that it submitted the Lowest Calculated Bid, the Bidder shall submit its latest income and business tax returns filed and paid through the BIR Electronic Filing and Payment System (eFPS), and other appropriate licenses and permits required by law and stated in the BDS.

• Within a non-extendible period of five (5) calendar days from receipt by the bidder of the notice from the BAC that it submitted the Lowest Calculated Bid, the Bidder shall submit its latest income and business tax returns filed and paid through the BIR Electronic Filing and Payment System (eFPS) and other appropriate licenses and permits required by law and stated in the BDS.

• Bank charges related to the transfer of funds are governed by the Payment System Act.

• In order to ease some of the difficulties that have arisen, the Government plans to introduce what is called a Deferred Tax System for these capital goods.Under a Deferred Tax Payment System, registered and existing businesses can request a deferred payment to eliminate the possible cash flow problems resulting from investment in large capital goods.

• Payments shall be remitted by the BSP through the Checkless Payment System, in the form of a direct credit to the bank account of the payee (awardee) upon submission by the Supplier/awardee of the Authority to Credit.

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 system that enables payments to be effected between a payer and a beneficiary;

payment system means the legal entities—the 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 any system or arrangement for the transfer, clearing or settlement of funds or securities;

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 any international card payment organisation whose logos and marks appear on a Card. “Personal Information” means: