Payments Systems Determination by Universal Financial Industry Message Scheme According to Single Euro Payments Area

Slobodan Nikola Babic

A chapter in E-Business - State of the Art of ICT Based Challenges and Solutions from IntechOpen

Abstract: This research was initiated by phenomenological events which were recognized in Single Euro Payments Area payment systems, based on the universal financial industry message scheme standard. This paper shows the determination of payment systems based on their structure (all the way from retail users up to the Central bank) and on the subject they are dealing with (payments, forex notifications, securities, trade services) by universal financial industry message scheme standard. The paper provides description of an adequate way of payment system elements creation with potential automation of industry payment systems creation that are of great importance for the society they are serving. It also demystifies these mission critical systems creations and makes it more comprehensible for experts in various fields who have never before had a chance to deal with the financial industry systems, and who could, thanks to their various expertizes, contribute to the development of these systems.

Keywords: design; standardization; management; single euro payments area; universal financial industry message; scheme; standard; payment; system (search for similar items in EconPapers)
JEL-codes: L81 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:ito:pchaps:108030

DOI: 10.5772/66250

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