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… that holds the account of the payor (person making a payment). … Payor's financial institution (FI) …
… The failure of the payments ecosystem to ultimately settle on the books of the …
… A disruption to the payments ecosystem large enough to have a noticeable impact …
… An item dated more than six (6) months prior to presentment for payment. … Stale-dated …
… we do not yet have the frameworks in place to support new payment experiences -- some that are commonplace in other … At the moment we rely entirely on banks who are actually pretty low tech to deliver payments, and paytech is really … knows where your money is. And 11 days, that's probably pretty good in some cases because the money just shows up …
… end-user (person or organization) who receives funds when a payment item is credited to their account … Payee …
… – the process of transmitting and reconciling a payment in an automated fashion, such that no human …
… A disruption to the payments ecosystem that has a material impact on ecosystem …
… in order to participate directly (or indirectly) in a payment system. Access criteria may differ depending on what … perform as a participant in the system (e.g. exchange of payment messages, clearing or settlement with the central …