payment instrument

Since January 2008, banks have been switching customers to the new payment instruments.

Once banked, cheques are processed electronically together with other retail payment instrument.

It was provided that the bank should guarantee 2/3 of the value of its banknotes with valid payment instruments.

"The inquiry is concerned primarily about the effectiveness of competition in markets for payments processing and payment instruments.

The banks' main payment instrument was based on the cheque which has a totally different remittance model than that of a giro.

The cheque is still the most important non-cash payment instrument in Australia in terms of the value transferred using it each day.

The issue of surcharging or offering a discount on a given payment instrument is, according to European legislation, left to the discretion of the merchant.

After the First World War Letters of Credit became commonplace as payment instruments to facilitate international trade.

Cash payment instruments (Bank Indonesia)

The NI Act provided a legal framework for non-cash paper payment instruments in India.

Pan-European payment instruments for credit transfers began on 28 January 2008; direct debits and debit cards became available later.

An even more sci-fi-sounding technology uses consumers' fingers as the "transaction payment instrument," as the lingo puts it.

Banks have been able to use SEPA payment instruments since January 2008.

But, unlike account-based payment instruments, such as credit and debit cards, it works as a pre-paid bearer instrument.

The EPC is committed to delivering three pan-European payment instruments:

Firstly, how does the Commission intend to promote and support migration to the SEPA payment instruments?

'The bill of exchange is a popular payment instrument in France and Spain,' says Mr Newsome.

In the law code of the United States, a money transmitter or money transfer service is a business entity that provides money transfer services or payment instruments.

The commercial and technical frameworks for payment instruments were developed by the European Payments Council (EPC), made up of European banks.

SEPA will enable customers to make cashless euro payments to anyone located anywhere in the area, using a single bank account and a single set of payment instruments.

Domestic transactions are routed by IBAN; earlier national-designation schemes will be abolished by February 2014, providing uniform access to the new payment instruments.

Carapay is a new payment instrument and was the first new company to be awarded a license under the Payment Service Directive (PSD).

"In relation to payment instruments, if the market is defined for taxi-specific payment instruments, then Cabcharge has a very strong position in this market.

In Canada, bank drafts do not carry any different legal weight as opposed to a standard check, but are provided as a service to clients as a payment instrument with guaranteed funds.

A single and balanced set of rules should be defined on parties' rights and obligations regarding, for example, misuse of a payment instrument and revocability of payment orders.