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Types of payment systems for traders
Submitted by karri » Thu 23-Apr-2020, 03:09Subject Area: General | 4 member ratings |
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Types of payment systems for tradersAt the stage of growing popularity of payment systems, the expansion of forms and calculation mechanisms, including physical and electronic infrastructure, as well as directly related procedures and protocols, was recorded. In the process of improving the procedures, residents of different countries of the world got the opportunity to conduct financial transactions using various technical means.
Currently, participants in financial relations use ATMs, payment kiosks, POS-terminals, cards with stored cash value, electronic wallets. In addition, transactions with the use of the mechanisms of foreign exchange markets, the sphere of circulation of futures, derivatives, options and a number of other instruments are quite active. Separate payment systems provide for credit mechanisms, which the theory considers separately from the procedures for transferring value between economic entities.
As one of the varieties of payment systems, analysts consider electronic payment systems. This type of payment system is used to carry out operations in the form of electronic payments. A distinctive feature of electronic payments is the use of payment chips or networks, including the Internet.
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