Payment system
SYSTEM USED TO TRANSFER MONETARY VALUE, INCLUDING INSTITUTIONS, INSTRUMENTS, PEOPLE, RULES, PROCEDURES, STANDARDS, AND TECHNOLOGIES
Payments system; Payment Systems; Payment network; Payments network; Clearing system; Payment systems; Cross-Border Payments; Payment platform; Global payments network
A payment system is any system used to settle financial transactions through the transfer of monetary value. This includes the institutions, instruments, people, rules, procedures, standards, and technologies that make its exchange possible.