Examples of Closed network in a sentence
Closed network prepaid cards, electronic benefits transfer, and dynamic currency conversion are not supported for GPISF processing.
The number, identity and location of a participant can be dynamic and unknown to the other partici- pants (see also Closed network).
Many normal transactions could not be promptly processed and confirmed; ⚫ Closed network structure: could not achieve cross-chain interaction between different chains, could not meet the needs of business interaction between multiple platforms.
Closed network assump- tions are no longer valid but it is not always possible to add security features to legacy systems, so alternative approaches are needed.At a more general level, we need to consider if there is adequate oversight for the introduction and operation of new technology like ERTMS and whether there are sufficient technical resources available to the regulator.
Closed network payment systems are relied on by most MSBs that provide remittance transfer services.The other major type of system, typically referred to as an ‘‘open network’’ payment system, is one in which no one entity necessarily exerts end-to-end control over a remittance transfer.