Univ.-Prof. Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.English-language economic definitions generated from approved international institutional sources.
Chaining is a settlement arrangement in which the completion of one instruction helps make the assets or credit needed for another instruction available. By linking mutually dependent transactions, a payment or securities system may settle a larger set of queued instructions than would be possible if each instruction had to rely solely on resources already… read more »
A cheque is a banking instrument that allows an account holder to request that funds be transferred from their account to an identified payee, or in some cases to the account holder themselves. It is processed by the relevant financial institution when presented, subject to applicable banking procedures and the availability of funds.
A chip card, or smart card, is a payment credential with an integrated circuit that can securely retain data and perform certain operations during a transaction. Unlike cards that merely present account details for processing elsewhere, it contains computing functionality that supports card-based payments.
Clearing is the process of reconciling and determining the amounts that participants in a financial transaction must deliver or receive before those amounts are finally paid or transferred. It may involve aggregating transactions, offsetting reciprocal claims, and using an intermediary or other organised arrangement. Settlement is the later stage in which the resulting cash or… read more »
The capital account tracks cross-border changes arising from one-time transfers that affect wealth, such as debt forgiveness or investment grants, together with purchases and sales of non-produced assets like natural-resource rights, licenses, and patents. It excludes routine trade and ordinary financial investment flows.
A card issuer is the organization responsible for providing a customer with a payment card and overseeing the account linked to it. When the card is used, the issuer checks the transaction, applies its approval or decline decision, and settles the issuer's obligations through the payment network. It may also bear responsibility for funding approved… read more »
The cash feature of a bank or payment card permits transactions involving physical currency at an ATM or comparable terminal, such as taking money out and, where supported, putting money in. A card may offer this feature alongside its purchase capability; the two services are conceptually separate and may vary according to the issuer and… read more »
A cardholder is the individual designated to use a payment card under the terms set by the provider. This designation may apply to a physical card or a card made available electronically, and it distinguishes the permitted user from entities such as the issuer, merchant, or payment processor.
Cash placement refers to loading an electronic-payment account with banknotes or coins through a process started by the account holder. It increases the balance available for later electronic transactions and does not describe those transactions themselves.
A cash settlement agent is the bank or other institution through which the monetary side of a payment or securities transaction is completed. It settles amounts owed between system participants, often by making or receiving the relevant account entries, while a separate party may handle trade matching, clearing, custody, or transaction records. Banks and central… read more »