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Financial markets payment system
The Cross-border Interbank Payment System (CIPS; Chinese: 跨境银行间支付清算有限责任公司) is a Chinese payment system that offers clearing and settlement services for
Cross-Border Interbank Payment System
Cross-Border_Interbank_Payment_System
System used to settle financial transactions through the transfer of monetary value
It is indispensable to the functioning of the interbank, money, and capital markets. A weak payment system may severely drag on the stability and developmental
Payment_system
Financial infrastructure in China
China Securities Depository and Clearing Corporation (CSDC) Cross-Border Interbank Payment System (CIPS) National Association of Financial Market Institutional
China Foreign Exchange Trade System
China_Foreign_Exchange_Trade_System
Distributed payment messaging mechanism system
Application (RMA) Cross-Border Interbank Payment System (CIPS) Dedollarisation Electronic money Indian Financial System Code (IFSC) Single Euro Payments Area (SEPA)
BRICS_Pay
US private clearing house
The Clearing House Interbank Payments System, commonly known as the CHIPS network, is the largest private sector USD clearing and settlement network in
Clearing House Interbank Payments System
Clearing_House_Interbank_Payments_System
Umbrella organisation for operating retail payments and settlement systems in India
country have also issued RuPay ATM cards. Unified Payments Interface is a real-time interbank payment system for sending or receiving money. It is integrated
National Payments Corporation of India
National_Payments_Corporation_of_India
Method of exchanging money and processing payments
defined instant payments as: Electronic retail payment solutions available 24/7/365 and resulting in the immediate or close-to-immediate interbank clearing of
Instant_payment
QR payment method in Thailand
as a lower-cost electronic interbank transfer system. The World Bank described PromptPay as Thailand's fast payment system, with National ITMX operating
Thai_QR_Payment
System for money transfers within the European Union area
SEPA payment scheme facilitates payment products also on smart devices. The aim of SEPA as stated in 2008 was to improve the efficiency of cross-border payments
Single_Euro_Payments_Area
Indian instant payment system
Unified Payments Interface (UPI) is an Indian instant payment system and protocol developed by the National Payments Corporation of India (NPCI) in April
Unified_Payments_Interface
Replacing US dollar for other currencies
transactions with Iran to non-dollar payment networks such as the yuan or the Cross-Border Interbank Payment System (CIPS). ..." Kim 2026: “' ... The ‘dollar’
Dedollarisation
Indian equivalent of the SWIFT financial transfer system
Messaging System (SFMS) and the Indian Banking Community Cloud (IBCC) have been handed over to IFTAS with effect from April 1, 2016. Cross-Border Interbank Payment
Structured Financial Messaging System
Structured_Financial_Messaging_System
International payment system
Pan-African Payment and Settlement System (PAPSS) is a Pan-African real-time gross settlement (RTGS) infrastructure for cross-border payments in distinct
Pan-African Payment and Settlement System
Pan-African_Payment_and_Settlement_System
Intergovernmental organization
were disruptions to the SWIFT system. China also launched its alternative to SWIFT: the Cross-Border Interbank Payment System, which enables financial institutions
BRICS
Italian interbank network and debit card
"Southern European Payment Systems Group in Talks to Add Partners". Bloomberg. 13 November 2024. "Cross-border instant payments between Bancomat, Bizum
Bancomat_(interbank_network)
European banking organisation
mobile payment solutions provided by several firms. It was created in December 2023 by Italian interbank network Bancomat, Spanish mobile payment firm Bizum
European_Payments_Alliance
Pan-European payment system
2029. The EPI scheme is not the first attempt to set up a European interbank payment and card network. The Monnet Project was initiated in 2008 by around
European_Payments_Initiative
Critical component of the financial system
Corporation (ChinaClear), the Shanghai Clearing House, and Cross-Border Interbank Payment System (CIPS) in China Financial trading venues such as stock exchanges
Financial market infrastructure
Financial_market_infrastructure
Economic process in China
Additionally, China has developed alternative payment systems such as the Cross-Border Interbank Payment System (CIPS) and the digital renminbi, facilitating
Internationalization of the renminbi
Internationalization_of_the_renminbi
Interbank network system
The Malaysian Electronic Payment System (MEPS) is an interbank network service provider in Malaysia. In August 2017, MEPS merged with Malaysian Electronic
Malaysian Electronic Payment System
Malaysian_Electronic_Payment_System
Electronic transfer of money from one bank account to another
as Society for Worldwide Interbank Financial Telecommunication (SWIFT) Real-time Payments Interbank network Payment system Real time gross settlement
Electronic_funds_transfer
Financial infrastructure in China
Trade System (CFETS) Cross-Border Interbank Payment System (CIPS) Asia-Pacific Central Securities Depository Group CCP Global "China Sets Up Interbank Clearinghouse
Shanghai_Clearing_House
Topics referred to by the same term
qualification issued by the World Institute of Pain Cross-Border Interbank Payment System, alternative to SWIFT system Confédération Internationale de la Pêche Sportive
CIPS
Payment and settlement systems are used for financial transactions in India. Covered by the Payment and Settlement Systems Act of 2007 (PSS Act), legislated
Payment and settlement systems in India
Payment_and_settlement_systems_in_India
2022, 23 Russian banks had been connected to the Chinese Cross-Border Interbank Payment System. Back in 2022, nine Russian banks, including Sberbank and
Economy_of_Russia
Banking platform
to improve cross-border transactions with CBDC's. A full-stack (front-end and back-end) CBDC system comprising a wholesale interbank system and a retail
MBridge
Electronic fund transfer system
efficient national payment system reduces the cost of exchanging goods and services, and is indispensable to the functioning of the interbank, money, and capital
Real-time_gross_settlement
Malaysian finance company
Nexus, a multilateral international initiative to enable retail cross-border payments. Bank Indonesia involved as a special observer. The platform, which
Payments_Network_Malaysia
Barcode-based mobile payment method
(Ghana QR code payment) is Ghana's standardized QR code payment system launched by the Ghana Interbank Payment and Settlement Systems (GhIPSS). It is
QR_code_payment
Financial telecommunication network
functions. After payment has been initiated, it must be settled through a payment system, such as T2 in Europe. In the context of cross-border transactions
SWIFT
Trade restrictions levied by the United States government
the Russian-developed System for Transfers of Financial Messages (SPFS), the China-supported Cross-Border Interbank Payment System (CIPS), and the European
United States government sanctions
United_States_government_sanctions
entered into the Chinese-led Cross-Border Interbank Payment System (CIPS) in 2025, expanding their access to international payment processing. Russia has maintained
Economy_of_Cuba
Military and security assistance of Taiwan by the United States
been developing its own payment systems. In 2015, the People's Bank of China launched the Cross-Border Interbank Payment System (CIPS) to reduce dependency
American_defense_of_Taiwan
Indian multinational card payment service
Rupee and Payment) is an Indian multinational financial services and payment service system, conceived and owned by the National Payments Corporation
RuPay
Digital payment system for inter-bank transfers in Singapore
PayNow is a near-instant real-time payment system developed by Association of Banks in Singapore. The interface facilitates inter-bank peer-to-peer and
PayNow
SWIFT business identifier coding standard
Identification Number (BIN) Cross-Border Inter-Bank Payments System (China International Payments System) (CIPS) Data Universal Numbering System Financial Stability
ISO_9362
electronic cross-border payments. Within individual countries, payers and payees have used various electronic systems to make such payments. In the United
Payments_as_a_service
2003 Payment systems in the euro area http://www.bis.org/publ/cpss53p04eu.pdf EC Regulation 2560/2001: study of competition for cross-border payment services
TIPANET
Alphanumeric code that uniquely identifies a bank account in any participating country
internationally agreed upon system of identifying bank accounts across national borders to facilitate the communication and processing of cross border transactions with
International Bank Account Number
International_Bank_Account_Number
American multinational financial services corporation
€570,566,000 on Mastercard for "obstructing merchants' access to cross-border card payment services", due to Mastercard's rules obliging acquiring banks
Mastercard
Card used for financial transactions
Bendigo Bank: Easy Money card. A payment in Australia using a debit card can be processed by the local proprietary interbank network called EFTPOS, which
Debit_card
Method of electronic funds transfer
systems, such as the Clearing House Interbank Payments System (CHIPS), provide net settlement on a periodic basis. More immediate settlement systems tend
Wire_transfer
Standard for electronic data interchange between financial institutions
Archived from the original on 2025-11-12. Retrieved 2025-11-28. "SWIFT Cross-Border Payments Migration to ISO20022 Benefits". Bank of America. Archived from
ISO_20022
Contactless smart card used in Singapore
rechargeable contactless smart card and electronic money system that is primarily used as a payment method for public transport such as bus and rail lines
EZ-Link
Chinese financial services company
China" App officially launches today! This all-in-one cross-border platform brings together payments, travel, and everyday services, making life in China
UnionPay
Central bank digital currency of India
2022). "Cross-border CBDC payment solutions have the potential to create a seamless, low-cost, and transparent system for cross-border payments that allows
Digital_rupee
Process of exchanging a cheque for its funds
in two business days, and Clearing House Interbank Payments System (CHIPS) for larger value same day payments. "In 1974, ACH Associations from California
Cheque_clearing
International trade organization
facilitation of payment systems for cross-border transactions. The meeting agenda focused on introducing digital currency and simplifying the cross-border transaction
Asian_Clearing_Union
American payment card services corporation
2018. "Commission exempts multilateral interchange fees for cross-border Visa card payments" (Press release). European Commission. July 24, 2002. Archived
Visa_Inc.
Currency of China
retail payments, and cross-border trials. The digital yuan is intended to enhance payment system resilience, offer an alternative to private payment platforms
Renminbi
Bank holding that clients can access on demand
Preservation Order, a new procedure of asset freezing in order "to facilitate cross-border debt recovery in civil and commercial matters." Customers may need to
Transaction_account
International financial institution owned by central banks
Nexus, a multilateral international initiative to enable retail cross-border payments. Bank Indonesia involved as a special observer. The platform, which
Bank for International Settlements
Bank_for_International_Settlements
Financial infrastructure group
settlement risk problem, namely the Group of Experts on Payment Systems and the Committee on Interbank Netting Schemes of the Central Banks of the G10 Countries
CLS_Group
Financial transaction with withdrawal from another's bank account
countries for cross-border and domestic payments in euros. Initially, SEPA Direct Debit operated in parallel with national direct debit systems. However,
Direct_debit
Sanction against Russia for the 2022 invasion of Ukraine
the United States. If Russia were to be excluded from SWIFT, its interbank payment transactions will become significantly more complex, and the country's
SWIFT ban against Russian banks
SWIFT_ban_against_Russian_banks
Global decentralized trading of international currencies
are banks, so this behind-the-scenes market is sometimes called the "interbank market". Trades between dealers can be very large, involving hundreds
Foreign_exchange_market
2024 international relations conference
establishment of a Palestinian state within the 1967 borders. BRICS members introduced a payment system named BRICS Pay designed to facilitate transactions
16th_BRICS_summit
Singaporean electronic payment service provider
NETS partnered with Malaysian Electronic Payment System (MEPS) in Malaysia to enable bilateral cross-border ATM withdrawal services, and UnionPay in China
NETS_(company)
Monetary authority of the United Arab Emirates
financial market infrastructure for cross-border remittances via the regional and international payment systems. The Correspondent Banking relationships
Central Bank of the United Arab Emirates
Central_Bank_of_the_United_Arab_Emirates
Financial institution that accepts deposits
settlement of payments – banks act as both collection and paying agents for customers, participating in interbank clearing and settlement systems to collect
Bank
Indonesian interbank networks
PRIMA provides interbank transaction services including ATM switching, debit card processing, QRIS (QR code payments), cross-border transactions, and
PRIMA_(Indonesia)
Brand of Russian payment system
Zolotaya Korona (brand KoronaPay) is a Russian payment system offering various services to individuals through its own online platforms and those of its
Zolotaya_Korona
Foreign exchange process
how DCC is offered. The DCC exchange rate must be based on a wholesale interbank rate, to which any additional markup is then applied. Visa requires that
Dynamic_currency_conversion
Datamining computer system
social network analysis software data mining computer system developed by HMRC (UK) that cross-references businesses’ and people's tax records with other
Connect_(computer_system)
New Zealand fintech company
provides a payment system for domestic, low value electronic foreign exchange transactions to Polynesian countries using a smart market retail system. The company
KlickEx
Rate at which one currency will be exchanged for another
stock of banknotes (bills). Currency for international travel and cross-border payments is predominantly purchased from banks, foreign exchange brokerages
Exchange_rate
Gross Settlement, Express Transfer system): interbank payment system for the real-time processing of cross-border money transfers throughout the European
List of acronyms associated with the eurozone crisis
List_of_acronyms_associated_with_the_eurozone_crisis
Code assigned by a central bank to other institutions
countries in the Single Euro Payments Area have switched to an IBAN-based system for clearing (including TARGET2 for cross-border transfers). The national
Bank_code
Nasdaq CSD’s Icelandic securities settlement system via the Central Bank of Iceland’s interbank system. As of 2024, Nasdaq CSD held over €76.9 billion
Nasdaq_CSD
Central bank of India
Nexus, a multilateral international initiative to enable retail cross-border payments. Bank Indonesia involved as a special observer. The platform, which
Reserve_Bank_of_India
Country in South Asia
Islands share a maritime border with Myanmar, Thailand and Indonesia. "Faxian ... also recorded evidence of the caste system as he could observe it. According
India
Country in Northern Europe
Number 159". Currency Code Services – ISO 4217 Maintenance Agency. SIX Interbank Clearing. 15 August 2014. Archived from the original on 30 April 2021
Lithuania
Real-time gross settlement system in the EU
replace the predecessor system TARGET in November 2007. TARGET2 was also an interbank RTGS payment system for the clearing of cross-border transfers in the eurozone
TARGET2
Fees charged for ATM use
ATM usage fees are what many banks and interbank networks charge for the use of their automated teller machines (ATMs). In some cases, these fees are
ATM_usage_fees
8th most widely traded currency in the world". Society for Worldwide Interbank Financial Telecommunication. Archived from the original on 5 November
Economy_of_China
Ghananian economist
policy and management, including: External Director, Ghana Interbank Payment and Settlement Systems. Member, Bank of Ghana Board Member, Ghana Revenue Authority
Zakari_Mumuni
British central banker and author (born 1958)
reforming Hong Kong following the 1987 crash, and then the UK's wholesale payments system, leading to the introduction of real-time gross settlement. He was
Paul_Tucker_(banker)
Intergovernmental forum of Southeast Asian nations
the ASEAN Power Grid, ASEAN Free Trade Area, ASEAN Integrated QR Code Payment System, or the mutual ASEAN visa-free policies. Every two years, it organises
ASEAN
Stock exchange in Zürich, Switzerland
SWX Swiss Exchange, 2002. "Synchronicity will be key to CBDC and cross-border payments". Euromoney. 10 December 2020. Archived from the original on 11
SIX_Swiss_Exchange
European Union ideologies
provide services (freedom of establishment), and the right to provide cross-border services without having the need of establishing an office (freedom to
Freedom of Establishment and Freedom to Provide Services in the European Union
Freedom_of_Establishment_and_Freedom_to_Provide_Services_in_the_European_Union
Principal metro system serving Singapore
chiefly a) the MRT system, which falls entirely within the city-state and forms the core of the network, and b) the two-station cross-border Johor Bahru–Singapore
Mass Rapid Transit (Singapore)
Mass_Rapid_Transit_(Singapore)
Country in West Asia
largest in the Middle East, and the twelfth-largest in the world. It is bordered by the Red Sea to the west; Jordan, Iraq, and Kuwait to the north; the
Saudi_Arabia
Central bank of the People's Republic of China
Vice Governor Chen Yuan spearheaded the creation of the Electronic Interbank System (EIS), the PBC's first state-of-the-art financial market infrastructure
People's_Bank_of_China
Sector of the economy of the United Kingdom
reinsurance, asset and wealth management, market infrastructure such as payment systems and clearing houses, and a wide range of related professional services
Financial services in the United Kingdom
Financial_services_in_the_United_Kingdom
(ASIC) monitors the BBSW system. There arises from time to time a situation when there are insufficient funds in the interbank lending market to enable
Banking_in_Australia
Indian private sector bank
services, capital market services, trade, foreign exchange and derivatives, cross-border trade and correspondent banking services, and tax collections on behalf
Axis_Bank
Currency of the European Union
charge the same for intra-member cross-border transactions as purely domestic transactions for electronic payments (e.g., credit cards, debit cards and
Euro
Non-ministerial department of the UK Government
department of the UK government responsible for the collection of taxes, the payment of some forms of state support, the administration of other regulatory
HM_Revenue_and_Customs
European economic policy initiative
reduction of market fragmentation, diversification of financial sources, cross-border capital flows with a special attention for Small and Medium-sized enterprises
Capital_Markets_Union
International economic globalization
and local economies across the world through an intensification of cross-border movement of goods, services, technologies and capital. Economic globalization
Economic_globalization
Rapid transit system in Bengaluru, Karnataka, India
loan for the project. The rate of interest on the loan is linked to Euro Interbank Offered Rate (Euribor) + 130 basis points. In early 2017, the European
Namma_Metro
Default of three major Icelandic banks
difficult or impossible to roll over their loans in the interbank market, their creditors insisting on payment while no other banks were willing to make fresh
2008–2011 Icelandic financial crisis
2008–2011_Icelandic_financial_crisis
British bank and financial services group
phase out cheques in the city and switch to electronic payments. According to Hong Kong Interbank Clearing, cheque transactions in Hong Kong fell to HK$488
HSBC
EU assessment of third country financial regulations
is not to liberalise international trade in financial services, but a cross-border instrument to manage financial activity of market players in a way that
Equivalence in financial services
Equivalence_in_financial_services
operates the cross border link between Northern Ireland and the Republic of Ireland. Three cities in the United Kingdom have rapid transit systems. The most
Transport in the United Kingdom
Transport_in_the_United_Kingdom
Currency of Denmark
century saw expanding economic activity and thus also a need for means of payment that were easier to handle than coins. Consequently, banknotes were increasingly
Danish_krone
1760–1840 agrarian to industrial era shift
granted monopolies and tax-collecting responsibilities in exchange for payments to the state. Located in a region "at the hub of the largest and most varied
Industrial_Revolution
Central business district of London, England
is the Fleet). Beginning in the west, where the City borders Westminster, the boundary crosses the Victoria Embankment from the Thames, passes to the
City_of_London
Network of infrastructure projects
goods to be transited to any border of Pakistan. However, it does not grant Afghan trucks the right to cross the Wagah Border or allow Indian goods to be
China–Pakistan Economic Corridor
China–Pakistan_Economic_Corridor
Banking model based on long-term customer relationships
practiced in corporate banking, investment banking, consumer finance, and interbank markets. Research has identified potential benefits including greater
Relationship_banking
travel, tourism, insurance
CROSS BORDER-INTERBANK-PAYMENT-SYSTEM
CROSS BORDER-INTERBANK-PAYMENT-SYSTEM
CROSS BORDER-INTERBANK-PAYMENT-SYSTEM
CROSS BORDER-INTERBANK-PAYMENT-SYSTEM
CROSS BORDER-INTERBANK-PAYMENT-SYSTEM
CROSS BORDER-INTERBANK-PAYMENT-SYSTEM
CROSS BORDER-INTERBANK-PAYMENT-SYSTEM
CROSS BORDER-INTERBANK-PAYMENT-SYSTEM
CROSS BORDER-INTERBANK-PAYMENT-SYSTEM
travel, tourism, insurance