More on P27

Know more about CSM used in P27, more on benefits and messages used in P27 in this blog

Book Transfers

Book Transfers We have heard about SEPA payments, Domestic payments and Global payments by now, another type of payment which we are learning today is “Bank Internal Transfers” or “Book Transfers“. Probably we may have seen family members having their account in same bank in the country. Here payer and payee belongs to same bank …

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Domestic Payments

Domestic Payments Domestic Payments, as the name suggests within a single geographical jurisdiction transfers. When payer and payee resides in the same country and the transfers happening in local currency which uses a single common clearing system, then the payment becomes domestic in nature. They are also called as “Domestic Transfers“. Domestic payments general requirements: …

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Global Payments

What are Cross Border Payments? Global Payments are also known as Cross Border Payments or International Payments. As the name suggests the payments made between payer and payee who resides in different geographical jurisdictions is generally called as “Global Payment”. As the jurisdiction is different, the currency in most of the cases will be different …

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What is SEPA? SEPA – Single Euro Payments Area, a program started by European Commission, The European Central Banks and European Banks helped in using Euro as single currency for any transactions/trade within the SEPA union. What is SEPA union? SEPA union is a list of member nations who are participating in SEPA program. Majorly …

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Payments Terminologies – Part 02

Terms and definition used in Payments   Debtor (Originator, Ordering Party Buyer): The Party whose account is debited with the payment Creditor (Beneficiary, Seller): The Party whose account is credited with the payment Initiating Party: The Party on the initiative of which the payment data is established. This might be the payer itself, an agent, or the company service …

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