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Payment system. A payment system is any system used to settle financial transactions through the transfer of monetary value. This includes the institutions, payment instruments such as payment cards, people, rules, procedures, standards, and technologies that make its exchange possible. [1][2] A payment system is an operational network which ...
In the teaching of the Catholic Church, an indulgence (Latin: indulgentia, from indulgeo, 'permit') is "a way to reduce the amount of punishment one has to undergo for (forgiven) sins". [1] The Catechism of the Catholic Church describes an indulgence as "a remission before God of the temporal punishment due to sins whose guilt has already been ...
Due diligence is the investigation or exercise of care that a reasonable business or person is normally expected to take before entering into an agreement or contract with another party or an act with a certain standard of care. Due diligence can be a legal obligation, but the term more commonly applies to voluntary investigations.
Total System Services, Inc. (commonly referred to as TSYS), was an American financial technology company headquartered in Columbus, Georgia. In 2019, TSYS was merged into Global Payments Inc . [ 48 ] [ 49 ] TSYS is the largest third-party payment processor for issuing banks in North America, with a 40% market share , and one of the largest in ...
A letter of credit (LC), also known as a documentary credit or bankers commercial credit, or letter of undertaking (LoU), is a payment mechanism used in international trade to provide an economic guarantee from a creditworthy bank to an exporter of goods.
The Clearing House Interbank Payments System (CHIPS) is a bank owned automated funds-transfer system for domestic and international high value payment transactions in U.S. dollars. It is a real-time final settlement payment system that continuously matches, off-sets and settles payments among international and domestic banks. [3]
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