Generally any system for processing payment instruments and settling consequential debts among the parties to the system. The term is now often used in a specific sense to refer to the computer networks and software systems used by the financial institutions involved.
A communication system having the provisions to provide financial settlement information.
The financial system creating the means for transferring money between suppliers and users of funds, usually by exchanging debits or credits between financial institutions.
The mechanism--the rules, institutions, people, markets, and agreements--that make the exchange of payments possible.
a "funds transfer system that facilitates the circulation of money" between participants in the system
a mechanism that facilitates transfer of value between a payer and a beneficiary by which the payer discharges the payment obligations to the beneficiary
a set of rules, procedures and technical systems used to transfer financial assets between private individuals, banks, enterprises and public entities
financial organization (or association of financial organizations) providing financial services to customers and allowing them to use credit cards that are identified by its number and some supplementary information.
A set of instruments, procedures and transfer systems among several financial institutions that facilitate the circulation of monetary value and settlement of transactions.
A set of instructions and procedures used for the transfer of ownership and settlement of obligations arising from the exchange of goods and services.
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.