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… Payments are exchanged, cleared and settled through a single …
… The financial institution to which a debit payment item is addressed and which is directed to pay the specified amount of money. … Drawee …
… Those who use, or are likely to use, services provided by payment systems (e.g. …
… or organization) who authorizes their financial institution to debit their account for the amount of a payment item … …
… Commonly understood to mean the process of transmitting, reconciling and, in some cases, confirming payment orders prior to settlement, possibly including the netting of … items that were exchanged and the calculation of net totals for settlement … Clearing …
… Payments are changing The payment landscape is changing, and so are the needs of Canadians. Payments Canada is working to modernize Canada’s payment systems. … Modernization is a …
… Payments are exchanged, cleared and settled through multiple point-to-point systems, where they are routed and validated by the …
… which would result in a debit and credit being posted to the accounts of the Payor and Payee … Exchange …