What Are Payment Systems?
Payment system (Payment System) is a financial arrangement that is composed of an intermediary agency that provides payment clearing services and professional technical means to achieve payment instruction transmission and fund clearing. System (Clear System).
payment system
- Payment system (Payment System) is provided by payment clearing services
- The payment system is due to the social
- according to
- Traditional notes are
- Transfer payments are divided into two types: credit transfers and debit transfers.
- Credit
- Automated Clearing House (ACH) is an arrangement for payment by electronic debit or credit between member institutions reached by member deposit institutions. It is generally used for small transaction payments.
- The idea of using cards to pay for money originated in 1915. Some hotels and shops in the United States issued so-called "shopping cards" to solicit business. This is the prototype of credit cards. In 1951, the Franklin National Bank of California issued to its customers a card with the customer's account and the amount of deposits on it, which customers could use to make purchases at local retail stores. As this approach is popular with customers, banks are vying to follow suit. Earlier credit cards did not charge cardholders for fees and interest, but for cardholders to settle at the moment, they must now return all their debts. In 1965, the Bank of America formed the first credit card network on the west coast of the United States, and then the banks of Illinois and Illinois formed the Midwest Bank Card Association, which was the predecessor of Visa and Mastercard. Credit cards provide a convenient and secure payment tool for bank customers and retailers, so they are very popular and the credit card business is developing rapidly.