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Faster Payments. The Faster Payments Service ( FPS) is a United Kingdom banking initiative to reduce payment times between different banks' customer accounts to typically a few seconds, from the three working days that transfers usually take using the long-established BACS system. CHAPS, which was introduced in 1984, provides a limited faster ...
The following is a list of notable online payment service providers and payment gateway providing companies, their platform base and the countries they offer services in: (POS -- Point of Sale ) Company
Bacs Payment Schemes Limited ( Bacs ), previously known as Bankers' Automated Clearing System, is responsible for the clearing and settlement of UK automated direct debit and Bacs Direct Credit and the provision of third-party services. [1] Bacs became a subsidiary of Pay.UK (formerly known as New Payment System Operator (NPSO)) on 1 May 2018 ...
oyster .tfl .gov .uk. The Oyster card is a payment method for public transport in London (and some areas around it), England, United Kingdom. A standard Oyster card is a blue credit-card-sized stored-value contactless smart card. It is promoted by Transport for London (TfL) and can be used on travel modes across London including London Buses ...
Payment service provider. A payment service provider ( PSP) is a third-party company that allows businesses to accept electronic payments, such as credit card and debit card payments. PSPs act as intermediaries between those who make payments, i.e. consumers, and those who accept them, i.e. retailers. [1]
Surcharge (payment systems) A surcharge, also known as checkout fee, is an extra fee charged by a merchant when receiving a payment by cheque, credit card, charge card or debit card (but not cash) which at least covers the cost to the merchant of accepting that means of payment, such as the merchant service fee imposed by a credit card company. [1]
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