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Posted by tronicextreme on March 29th, 2016
Tronic Extreme.
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Tronic Extreme is a well known business supplying ePos, CCTV and Alarms systems in Coventry. We pride ourselves with our excellent customer service Cheap Shirts Wholesale , along with our reliable and quality products. We have a large range of products available in stock, which can be viewed online via our website, or simply come and visit us at our trade counter to get actual feel of the product and its quality. We always aim to maintain the highest standards at very competitive prices.
We provide CCTV and Alarm systems which can be either be fitted DIY or we have our own installation team, who can professionally fit your equipment for you. We will always give you good honest advice, and also give you our professional opinion on what products will be suitable for you.
We can supply and fit a large range of ePos systems and accessories, including our range of the latest touch screen tills. We have large stock at our premises which includes all the latest equipment.
We hope to hear from you soon.
What is a payment system? I am reminded of lengthy debates around the office on just this question - and the heated and Cheap Hats China , at times, passionate discussion that ensued. My antagonist, who is also my partner, took one view and I took the other. The thrust and parry of the dialogue ebbed and flowed ?long into the night over innumerable cups of coffee.
The Bank for International Settlements (BIS) definition of a payment system states; 聯A payment system consists of a set of instruments, banking procedures and, typically Cheap Hoddies China , interbank funds transfer systems that ensure the circulation of money? (From 聯A glossary of terms used in payments and settlement systems? Committee on Payment & Settlement Systems. BIS, Basel, Switzerland. March 2003 (Revised Edition)).
Armed with this definition we can examine the components that make up what we so glibly refer to as a 聯payment system? This examination will help us see what a payment system really is.
The BIS definition focuses on ?.. instruments, banking procedures ?interbank funds transfer systems? Let us examine each in a little more detail.
?Instruments ?a mere half century ago this was easy to define. Payment instruments were basically cash and cheques. Today however there is a vast range of payment instruments. Apart from the cheque and cash we now have giro-payments, electronic transfers, internet payments Cheap T-shirts China , debit orders, standing orders, credit cards, debit cards, electronic 聯cash?and so on. And the nature is each is vastly different from the other.
?Banking procedures ?these cover a huge area. Anything that is not an instrument or that does not relate to how that instrument is moved, must Cheap Shirts China , by definition, be related to a banking procedure. Here there are internal bank procedures (such as how a branch initiates payments), payments systems rules, the agreements (such as those between banks, between banks and their customers, between banks and the clearinghouse) Cheap Hats , national and international payment laws and payment regulations. We must also not forget the actual operational procedures, either manual or technology driven within individual banks that are used to initiate, verify and process the payment. All of these procedures are simply to get the payment ready for the next step, to move it to a transfer system.
?Interbank transfer systems ?this covers local and national clearinghouses (for physical instruments such as paper), ACHs (automated clearinghouses for the electronic ones), message carriers (such as S.W.I.F.T. ?Society for Worldwide Interbank Financial Transactions) Cheap Hoddies , switches for ATM transactions, the national and international credit card networks and so on. Missing from the BIS definition is the intrabank systems that give effect to payment instrument transfers within the same bank. These are transfer systems too.
The key word in the definition is 聯set?- for all these components have to be combined to make up a complete unit which achieves the desired outcome ?just like a tea set with its cups, saucers, tea-pot, strainer (or perhaps a tea-bag holder), milk jug and sugar bowl are just the thing for carrying out correct ritual for brewing and serving tea.
Sure Cheap T-shirts , one can have tea without all this but it聮s not really the same.
The analogy, while useful as a description ends here - in a payment system the missing components give rise to a serious problem ?Risk.
Risk takes on many forms; credit risk, liquidity risk, legal risk, operational risk, settlement risk Cheap Shirts , systemic risk and put the whole fabric of the payment system in danger.
Despite this we often associate the word 聯system?with only the technology; the bits and bites, the hardware and the software. We tend to forget that there is a lot more that goes into making up a payment system.
So the next time that you write out a check or take that credit card from your wallet, give a thought to the process that you are initiating in a complex structure that we take so for granted - the payment system.
Stanley Epstein is a Principal Associate and Director of Citadel Advantage Ltd., a consultancy dealing in bank operations and specializi. Cheap Authentic Jerseys Cheap Jerseys China Free Shipping Cheap NFL Jerseys China Wholesale Jerseys From China Wholesale Hoddies Cheap Nike NBA Shirts Wholesale Shirts Free Shipping Cheap Hoddies Free Shipping Cheap Hoddies Wholesale Cheap NCAA Hats |
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