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

• CHAPS – the Clearing House Automated Payment System, a service enabling organisations to make same-day payments to an account within the UK, within the CHAPS operating days and times.

• City of Fruita, CO Signature: Signature: Name (Print): Name (Print): Title: Title: Date: Date: EXHIBIT A Fees Initial Configuration Fees PRODUCT DESCRIPTION ASSESSED TO RATE Payment System - Setup & Configuration Payment System - Setup & Configuration - Online Payment Module, Auto Pay Module, Card Swipe Module Assessed to Customer USD 2,200.00 Training - Onsite Per Day Training - Onsite Per Day - Does not include travel.

• Merchant must notify ISO of its use of any Third Party Payment System that will have access to and/or stores Sensitive Payment Data.

• In the event Merchant uses a Third Party Payment System including, but not limited to, a POS terminal, POS system, POS software, payment software, payment gateway, virtual terminal, Cardholder activated terminal or automated fuel dispenser, Merchant is responsible for assuring third party system is PA-DSS certified and complies with the PABP (Payment Application Best Practices) as set forth by the PCI-SSC and the Card Associations.

• Swing beds located in non-CAHs are paid using the Medicare Skilled Nursing Facility Prospective Payment System (PPS), which is a per-diem payment.

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 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 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 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 a formal arrangement between three or more participants, not counting possible settlement banks, central counterparties, clearing houses or indirect participants, with common rules and standardised arrangements for the execution of transfer orders between the participants;

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