Univ.-Prof. Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.English-language economic definitions generated from approved international institutional sources.
Cash-in-shop refers to accessing cash services at a retail location, where customers may add or remove cash even when they are not buying goods. The retailer provides this access under an arrangement with a bank or payment-services provider, using its premises as a convenient cash-service point.
POS cash-back is a retail payment feature that lets a shopper obtain physical currency during checkout. The payment instrument is charged for both the merchandise and the requested cash, which the retailer dispenses at the terminal. This meaning is separate from promotional cash-back, where a later rebate reduces the customer's effective purchase cost.
Central bank money is the payment instrument created by a monetary authority and accepted as final settlement within the financial system. It includes cash in circulation and reserve balances that eligible financial institutions hold in accounts at the central bank. Unlike deposits issued by commercial banks, these instruments represent direct claims on the central bank… read more »
A bill of exchange is a negotiable instrument that records an unconditional instruction to make a payment. It can require settlement at once or at a later maturity date, and the person entitled to receive the money may be the issuer or another named payee. Businesses often use bills to support commercial transactions and to… read more »
In payments, a brand is the market identity under which a provider offers a card or other payment service. It enables users and businesses to recognize the product and distinguishes it from competing offerings in the markets where it is made available.
A BIC is an alphanumeric identifier assigned to a bank or other financial institution for use in payment and messaging activities. SWIFT administers the BIC registration system. Each identifier has an eight-character core, while three additional characters may be appended to identify a particular branch or organisational unit. The core identifies the institution, its country,… read more »
A cap is a rule that restricts how large a participant’s permitted activity or outstanding position may become in a payment or settlement arrangement. It may govern exposure in either direction, including amounts owed to or receivable from the system, and is determined under the arrangement’s governance and measurement methods.
Batch processing refers to submitting multiple payment or securities-transfer instructions as one operational set, allowing the relevant system to manage them under a common processing arrangement rather than individually.
A bilateral net settlement system determines what each participating institution owes or is owed by another institution after offsetting their transactions over a specified period. Only the residual amount between the two institutions is then transferred, rather than the gross value of all underlying payments. Net obligations are determined independently for each pair of participants,… read more »