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Clearing House Interbank Payments System. The Clearing House Interbank Payments System ( CHIPS) is a United States private clearing house for large-value transactions. As of 2023, it settles approximately 500,000 payments totaling US$1.7 trillion per day. [1] Together with the Federal Reserve Banks ' Fedwire Funds Service, CHIPS forms the ...
Unconditional cash transfer. Unconditional cash transfer ( UCT) programs are philanthropic programs that aim to reduce poverty by providing financial welfare without any conditions upon the receivers' actions. [ 1] This differentiates them from conditional cash transfers where the government (or a charity) only transfers the money to persons ...
eBay, PayPal, Kijiji and StubHub, 500 King Street West, Toronto, April 2014. PayPal Holdings, Inc. is an American multinational financial technology company operating an online payments system in the majority of countries that support online money transfers; it serves as an electronic alternative to traditional paper methods such as checks and money orders.
Discover Financial Services. Discover Financial Services is an American financial services company that owns and operates Discover Bank, an online bank that offers checking and savings accounts, personal loans, home equity loans, student loans and credit cards. It also owns and operates the Discover and Pulse networks, and owns Diners Club ...
The Bangladesh Bank robbery, also known colloquially as the Bangladesh Bank cyber heist, [1] was a theft that took place in February 2016. Thirty-five fraudulent instructions were issued by security hackers via the SWIFT network to illegally transfer close to US$1 billion from the Federal Reserve Bank of New York account belonging to Bangladesh ...
Cash App (formerly Square Cash) is a mobile payment service available in the United States and the United Kingdom that allows users to transfer money to one another using a mobile phone app. [1] As of 2024, the service reports 57 million monthly transacting users and US$ 14.7 billion in annual revenues.
Data-rate units. In telecommunications, data transfer rate is the average number of bits ( bitrate ), characters or symbols ( baudrate ), or data blocks per unit time passing through a communication link in a data-transmission system. Common data rate units are multiples of bits per second (bit/s) and bytes per second (B/s).
E-commerce payment system. An e-commerce payment system (or an electronic payment system) facilitates the acceptance of electronic payment for offline transfer, also known as a subcomponent of electronic data interchange (EDI), e-commerce payment systems have become increasingly popular due to the widespread use of the internet-based shopping ...