What is the definition of Payment system? | Dictionary.net

PAYMENT SYSTEM

\pˈe͡ɪmənt sˈɪstəm], \pˈe‍ɪmənt sˈɪstəm], \p_ˈeɪ_m_ə_n_t s_ˈɪ_s_t_ə_m]\

Definitions of PAYMENT SYSTEM

1910 - Black's Law Dictionary (2nd edition)

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A system developed to provide ease in transferring funds from the suppliers to the borrowers, or from payers to payees. An exchange of credits and debits take place between the financial institutions involved.

1910 - Black's Law Dictionary (2nd edition)
By Henry Campbell Black

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