International Payment System definition

International Payment System international payment systems (payment network processors) VISA and Mastercard;
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International Payment System means any payment card scheme, including but not limited to VISA, MasterCard®, Discover and American Express, and the rules and procedures governing the making and accepting of АРМ Payments as stipulated by the relevant АРМ Provider, including but not limited to payment agreements between an АРМ Provider and intermediary payment service providers and/or Payment Provider, both hereinafter referred to as “the International Payment Systems”.
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International Payment System means any payment card scheme, including but not limited to VISA, MasterCard®, Discover and American Express, and the rules and procedures governing the making and accepting of АРМ Payments as stipulated by the relevant АРМ Provider, including but not limited to payment agreements between an АРМ Provider and intermediary payment service providers and/or Magua Pay Inc., both hereinafter referred to as “the International Payment Systems”.
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Examples of International Payment System in a sentence

  • IPS is acronym for International Payment System (e.g. Visa or MasterCard).

  • Acquirer or participate of International Payment System are the sole and exclusive owners of respective trademarks.

  • Operational since 2015, the China International Payment System (CIPS) handles cross-border RMB transactions for 11 hours a day, currently involving 19 banks, 8 of which are subsidiaries of non-resident banks.The liberalisation of payment cards also started recently, and important changes may occur in the long term due to the fact that since June 2016 international card companies have been allowed to clear card transactions, breaking up the monopoly of the Chinese card system UnionPay.

  • This paradigm shift is what customers want and hope for in Islamic banking.In the conventional banking paradigm, the relationship between banks and customers is in the form of creditors and borrowers.

  • This relatively new large-value transfer system, which began operation in 1999, is a guaranteed net settlement system; i.e., a system that provides intraday certainty with respect to the settlement (the equivalent of a claim on the central bank) for any payment message that passes the risk-control tests.6 The LVTS is a direct descendant of the earlier Canadian facility called the Interbank International Payment System (IIPS), and it continues to have a strong international orientation.

  • Only the validity period, card number, logos of the Bank and the International Payment System are indicated on a non-personalized card, in addition, the identifier of a non-personalized card can be indicated.

  • Adequacy considerations for emerging markets often incorporate financing of foreign currency imports over some horizon (e.g. three months) and having sufficient 1See discussions in ECB (2023) and Goldberg, Lerman, and Reichgott (2022).2US-owned Clearing House International Payment System (CHIPS) clears and settles $1.8 trillion in domestic and international payments per day.

  • The provisions of the Rules with relation to System Member shall apply to the Payment Organization.The Payment Organization makes Transfers through the International Payment System "MY TRANSFER" on the basis of the banking license of the National Bank of Ukraine dated 05.10.2011№ 148.

  • Further, by entering the Competition, entrant grants Licensees the additional license to, and by winning, winners grant Sponsor the rights to, adapt, translate, and distribute the entry (with the understanding that Licensees and Sponsor are under no obligation to do so) or incorporate theentry into any form, medium or technology, including the right, at each Licensee’s and/or Sponsor’s sole discretion, to publish the entry for advertising and promotional purposes.

  • The Bank shall open bank accounts and effect all transactions thereon in strict compliance with the laws of the Republic of Kazakhstan, the International Payment System Operation Rules, the Comprehensive Individual Service Agreement, and other agreements concluded between the Bank and the Client.


More Definitions of International Payment System

International Payment System means Visa International, Europay/ MasterCard, Amex, Discover, Union Pay and/or any other card scheme as may be applicable to the Merchant from time to time.
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Related to International Payment System

  • 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;

  • Cash Payment System means a payment system that generates any transfer of funds through a transaction originated by cash, check, or similar paper instrument. This includes electronic payments to a financial institution or clearing house that subsequently issues cash, check, or similar paper instrument to the designated payee.

  • international flight means all flights other than Domestic Flights.

  • Retirement system means a retirement plan or system that is established by or pursuant to title 38.

  • international voyage means a voyage from a country to which the present Convention applies to a port outside such country, or conversely.

  • International air transportation means transportation by air between a place in the United States and a place outside the United States or between two places both of which are outside the United States.

  • Safety Management System means a systematic approach to managing safety, including the necessary organisational structures, accountabilities, policies and procedures;

  • Electronic Payment System means a payment system that generates any transfer of funds, other than a transaction originated by cash, check, or similar paper instrument, which is initiated through an electronic terminal, telephone, mobile phone, computer, or magnetic tape, for the purpose of ordering, instructing or authorizing a financial institution to debit or credit an account. The term includes debit cards, wire transfers, transfers made at automatic teller machines, and point-of-sale terminals.

  • settlement system means any infrastructure whether or not connected to the auction platform that can provide settlement services, which may include clearing, netting, management of collateral, or any other services, which ultimately enable the delivery of allowances on behalf of an auctioneer to a successful bidder or its successor in title, and the payment of the sum due by a successful bidder or its successor in title to an auctioneer, carried out through either of the following:

  • commercial air transport means an aircraft operation involving the transport of passengers, cargo, or mail for remuneration or hire.

  • International Student means a student holding a student visa for the purpose of obtaining an education in Australia and includes a student on a study abroad or international exchange program;

  • Database Management System (DBMS) A system of manual procedures and computer programs used to create, store and update the data required to provide Selective Routing and/or Automatic Location Identification for 911 systems. Day: A calendar day unless otherwise specified. Dedicated Transport: UNE transmission path between one of CenturyLink’s Wire Centers or switches and another of CenturyLink’s Wire Centers or switches within the same LATA and State that are dedicated to a particular customer or carrier. Default: A Party’s violation of any material term or condition of the Agreement, or refusal or failure in any material respect to properly perform its obligations under this Agreement, including the failure to make any undisputed payment when due. A Party shall also be deemed in Default upon such Party’s insolvency or the initiation of bankruptcy or receivership proceedings by or against the Party or the failure to obtain or maintain any certification(s) or authorization(s) from the Commission which are necessary or appropriate for a Party to exchange traffic or order any service, facility or arrangement under this Agreement, or notice from the Party that it has ceased doing business in this State or receipt of publicly available information that signifies the Party is no longer doing business in this State.

  • National Ambient Air Quality Standards or “NAAQS” means national ambient air quality standards that are promulgated pursuant to Section 109 of the Act, 42 U.S.C. § 7409.

  • air traffic control service means a service provided for the purpose of:

  • Database Management System (“DBMS”) is a computer process used to store, sort, manipulate and update the data required to provide Selective Routing and ALI.

  • Earned value management system means an earned value management system that complies with the earned value management system guidelines in the ANSI/EIA-748.

  • International shipment means the transportation of hazardous waste into or out of the jurisdiction of the United States.

  • International Plan means any Employee Plan that is not a US Plan.

  • energy management system means a set of interrelated or interacting elements of a plan which sets an energy efficiency objective and a strategy to achieve that objective;

  • Private sewage disposal system means a system which provides for the treatment or disposal of domestic sewage from four or fewer dwelling units or the equivalent of less than sixteen individuals on a continuing basis.

  • International airport means an airport:

  • Double Phase Aerosol Air Freshener means an aerosol air freshener with the liquid contents in two or more distinct phases that requires the product container be shaken before use to mix the phases, producing an emulsion.

  • Service Management System (SMS) means an off-line system used to access, create, modify, or update information in a Database.

  • Displacement system means a device by which the seat or one of its parts can be displaced and/or rotated, without a fixed intermediate position, to permit easy access of occupants to the space behind the seat concerned;

  • international carriage means any carriage in which, according to the contract of carriage, the place of departure and the place of destination are situated in two different States, or in a single State if, according to the contract of carriage or the scheduled itinerary, there is an intermediate port of call in another State;

  • international waters means waters falling outside the sovereignty or jurisdiction of any State;