The Architecture of Payment Systems

Dominique Rambure and Alec Nacamuli

Chapter 1 in Payment Systems, 2008, pp 3-22 from Palgrave Macmillan

Abstract: Abstract Payment systems are indispensable to our lives as individuals and to the smooth functioning of the economy. They allow money to fulfil its role of accepted means of exchange when purchasing goods or services. As private persons, it is through payment systems that we receive our salaries and pay our bills. Enterprises use the same payment systems to settle invoices within the terms of their contractual relationships. Finally, financial trading activities also result in one cash leg through a payment system to purchase shares, or two for a foreign exchange deal, one in each currency.

Keywords: Central Bank; Commercial Bank; Payment System; Money Market; Payment Service (search for similar items in EconPapers)
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-0-230-22721-7_1

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DOI: 10.1057/9780230227217_1

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