Payments

A pan-European automated clearing house (PE-ACH) is an arrangement for handling euro payment instruments across European markets. Its operation is based on shared rules and procedures …

A participant in a transfer system has authority to initiate transfers and to accept instructions routed through that system. This status may be held by an …

A payer is the person or organisation that provides the funds for a payment and authorises its execution. The amount may be debited from the payer’s …

Payment denotes the settlement of a monetary obligation by moving funds from the debtor to the creditor. In banking and economic statistics, the term is sometimes …