Abstract
Payment System forms essential and critical infrastructure in overall economic performance of any nation. Efficient paymentsystem acts as a lubricant that keeps the economic engine running smoothly. Over the years payment systems have evolved into highly automated, rules based engines with extremely high levels of straight through processing capabilities.

This functional area is closely linked to cash management function offered by an Investment bank and as such represents multiple concepts. In this paper we intend to give an introduction to wholesale payment systems, covering such areas as types of payments systems, players involved, settlement procedures and typical process flows. The paper also presents a concise view of the payments systems across key economic regions of North America, Euro and Japan.

We intend to cover details of payment systems at investment banks, role of SWIFT and technologies involved and vendor offerings in the sequel.

Authors Jigisha Biswal Mandar Joshi

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