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… 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. consumers, businesses, government) … …

… financial institution to debit their account for the amount of a payment item … Payor …

… Commonly understood to mean the process of transmitting, reconciling and, in some cases, confirming payment orders prior to settlement, possibly including the … For the purposes of ACSS, it means the reconciliation of payment items that were exchanged and the calculation of net …

… Payments are exchanged, cleared and settled through multiple …

… The delivery and receipt of payment instructions, which would result in a debit and credit being posted to the accounts of the Payor and Payee … Exchange …

… In Real Time Gross Systems, each payment is settled individually as soon as the transfer …

… An act that discharges obligations in respect of funds between two or more parties. For ACSS, it means the payment of clearing balances. … Settlement …

… High Value Payment Systems; a set of instruments and procedures that facilitates typically …