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Real Time Gross Settlement (RTGS) is an online system for settling transactions of financial institutions, especially banks. RTGS payments are "push" payments, initated by the paying bank. If Bank A or one of its customers needs to pay $1000 to Bank B or one of its customers, Bank A initates the transaction and Bank B is immediately paid $1000 "electronically" by Bank A.
This "electronic" payment system is normally maintained or controlled by the Central Bank of the country. Here, there is no physical exchange of money; the Central Bank makes adjustments in the electronic accounts of Bank A and Bank B, reducing the amount in Bank A's account by $1000 and increasing the amount of Bank B's account by the same.
The RTGS system is suited for low-volume, high-value transactions. It lowers settlement risk, besides giving an accurate picture of an institution's account at any point of time.
More on [ Real Time Gross Settlement ]
Associations :: Banks and Institutions
Clearing Houses and Securities Depositories
Central Banks :: Finance
Payment card industry (pci) infrastructures are required in associations. #msaelegal
associationsliv (associationslive) Thu, 19 Nov 2009 19:41:20 -0000
Payment card industry (pci) infrastructures are required in associations. #msaelegal
Association for Payment Clearing Services - Information about UK money transmission, payments and clearings.
Australian Payments Clearing Association - APCA manages Australian payments clearing and settlement systems, policies, regulations and procedures.
Canadian Payments Association - Contains the rules used by Canadian deposit-taking financial institutions for clearing cheques and for electronic payments.
Meta Description: [ The CPA site contains the Rules used by Canadian deposit-taking financial institutions for clearing cheques and electronic payments, plus general information on the Association. ]
Clearing House Inter-Bank Payments System - A subsidiary of the New York Clearing House, CHIPS is a bank-owned competitor to FedWire.
Meta Description: [ As the nation's oldest and most innovative payments association and processor, our goal is to help our financial institution members remain at the forefront of the payments industry. ]
Committee on Payment and Settlement Systems - The secretariat of the CPSS at the BIS.
Meta Description: [ CPSS Background Information - Introduction ]
Electronic Payment Services Company - Consortium of major banks in Hong Kong dedicated to the use of electronic fund transfers to reduce cash and cheque transactions.
Meta Description: [ 無憂消費EPS智慧 - 易辦事（香港）有限公司（簡稱「易辦事公司」） - EPS為商戶提供這個簡便安全的零售支付系統，優點眾多，包括有助商戶加強營運效率，減少壞賬賒欠。目前EPS廣受大眾歡迎，在香港、澳門、深圳三地有超... ]
Electronic Payments Network - Private Automated Clearing House Operator owned and governed by financial institutions that provides processing services for all types of financial institutions.
Meta Description: [ As the nation's oldest and most innovative payments association and processor, our goal is to help our financial institution members remain at the forefront of the payments industry. ]
European Payments Council - Working towards a single payment area in the EU or in the eurozone.
Meta Description: [ xxx, European Payments Council (EPC) - Home page ]
South Africa - Payments Association of South Africa - Providing a safe and sound payment system to the whole South African banking community.
Meta Description: [ PASA payment systems providing payment solutions and payment information on online payment in south africa. the payments association of south africa is a payment system with payment solutions and payment information. ]
SWIFT - Society for Worldwide Interbank Financial Telecommunication supplies secure messaging services and interface software to wholesale financial entities.
Swiss Euro Clearing Bank - Connects euroSIC, the clearing system for payments in Euro in Switzerland, to TARGET.
Swiss Interbank Clearing - The central CHF payment system.
Meta Description: [ Swiss Interbank Clearing betreibt die RTGS-Zahlungssysteme SIC und euroSIC. Hunderte von Finanzinstituten weltweit wickeln daruber den elektronischen Zahlungsverkehr in Franken und Euro schnell, sicher und gunstig ab. ]
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