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Glossary and terms about credit cardsHome » Credit Card Glossary
Payments network
A payment system is a system (including physical or electronic infrastructure and associated procedures and protocols) used to settle financial transactions in Automated teller machine networks, Stored-value card networks, bond markets, currency markets, and futures, derivatives, or options markets, or to transfer funds between financial institutions. Due to the backing of modern fiat currencies with government bonds, payment systems are a core part of modern monetary systems.Also, Electronic Payment is a subset of an e-commerce transaction to include electronic payment for buying and selling goods or services offered through the Internet.