Payments System

Payments System

Collective term for mechanisms (both paper-backed and electronic) for moving funds, payments and money among financial institutions throughout the nation. The Federal Reserve plays a major role in the nation's payments system through distribution of currency and coin, processing of checks, electronic transfer of funds and the operation of automated clearinghouses that transfer funds electronically among depository intitutions; various private organizations also perform payments system functions.
References in periodicals archive ?
overarching regulator of the payments system in the country-is expected to bring about more competition, greater efficiency and foster digital innovations for both banking and payments product and services.
BANKING AND CREDIT NEWS-October 4, 2018--Central bank says Uganda needs urgent national payments system
M2 EQUITYBITES-October 4, 2018--Central bank says Uganda needs urgent national payments system
Global Banking News-October 4, 2018--Central bank says Uganda needs urgent national payments system
'Even as we provide an enabling environment for technological innovations in the payments system, the BSP likewise is internally undergoing transformation by digitalizing its own payments processes and upgrading its organizational resources and capabilities,' he said.
payments system. The Fed's mission in payments is to foster the integrity, efficiency and accessibility of U.S.
WORLDWIDE COMPUTER PRODUCTS NEWS-May 8, 2014-VocaLink updates Singapore's real-time national payments system
The association was established in order to organise and set national technical standards in the payments system.
Estarta Solutions has launched the new version of A4SADAD Bank which is associated to SADAD payments system in Saudi Arabia.
Thus, the architecture of electronic payments system include a contingency processing center (secondary site), which allows resumption of data processing, by copying them automatically from the main operating center (primary site).
The current state of thinking by industry practitioners about retail payment system fraud is well represented by the diverse cross section of participants in a 2007 roundtable on the subject sponsored by the Federal Reserve Board's Payments System Policy Advisory Committee.
Jeffrey Marquardt was promoted to deputy director, with continuing responsibility for the division's Cash, Retail Payments, Wholesale Payments, Fiscal Agency, Clearance and Settlement Systems, and Payments System Studies programs, and new responsibility for the Payment System Risk program.