Topic
Indian Financial System Code
About: Indian Financial System Code is a research topic. Over the lifetime, 25 publications have been published within this topic receiving 292 citations. The topic is also known as: IFSC.
Papers
Patent•
8 Nov 2001
TL;DR: In this article, a customer establishes funds transfer static data containing an identification number corresponding to a customer ID, and funds transfer information containing bank account or credit card information; completes a customer transaction to the point of payment; provides the customer ID at a transaction point; and, in response to a single action, transmits payment input data containing the customer identity, payment amount, and transaction date to a finds transfer data and processing host.
Abstract: An electronic payment system and method allowing payment by a single action over any electronic finds transfer network and using any pre-determined local or international electronic funds transfer and settlement network. The customer establishes funds transfer static data containing an identification number corresponding to a customer ID, and funds transfer information containing bank account or credit card information; completes a customer transaction to the point of payment; provides the customer ID at a transaction point; and, in response to a single action, transmits payment input data containing the customer ID, payment amount, and transaction date to a finds transfer data and processing host. The funds transfer data and processing host generates finds transfer data by adding finds transfer static data and finds transfer status data to the payment input data; monitors the status data to decide if payment is due; and generates a finds transfer instruction when the status data indicate the payment is due.
74 citations
Patent•
30 Jan 2003
TL;DR: In this paper, a host computer system that tracks financial transactions made at each merchant location or store and uses this information to reconcile accounts across different entities is presented. But, the host computer periodically performs a net settlement analysis of the transactional data received from each entity's stores.
Abstract: System and methods for facilitating the settlement of financial accounts across different entities utilize a host computer system that tracks financial transactions made at each merchant location or store and uses this information to reconcile accounts across different entities. In one embodiment, the host computer periodically performs a net settlement analysis of the transactional data received from each entity's stores. A request is prepared to transfer funds from each entity's bank account having a positive net settlement amount into a central entity bank account. A request is also prepared to transfer funds into each entity's bank account having a negative net settlement amount from the central entity bank account.
71 citations
TL;DR: In this paper, the authors thank Leonard Nakamura for helpful comments and conversations that helped shape this paper, although he bears no responsibility for its shortcomings, and do not necessarily reflect those of the Federal Reserve Bank of Philadelphia or of the United States Federal Reserve System.
Abstract: *I wish to thank Leonard Nakamura for helpful comments and conversations that helped shape this paper, although he bears no responsibility for its shortcomings. The views expressed in this paper are those of the author and do not necessarily reflect those of the Federal Reserve Bank of Philadelphia or of the Federal Reserve System.
26 citations
TL;DR: In this paper, the authors describe two approaches that have been pursued to strengthen or secure many existing payments system arrangements based on net settlement and explore why private-sector financial institutions often prefer to upgrade and secure existing net settlement systems, despite central bank preferences for the latter.
Abstract: Wholesale payments and settlement systems in G-10 countries have undergone significant change in recent years. Notably, central banks have sought to increase the safety and reliability of these systems. In this article, William R. Emmons describes two approaches that have been pursued. Significant progress has been achieved in strengthening (or "securing") many existing payments system arrangements based on net settlement. In addition, many new gross settlement systems have been created, and existing ones have been improved. The article also explores why private-sector financial institutions often prefer to upgrade and secure existing net settlement systems, despite central bank preferences for the latter.
26 citations
Book•
1 Jan 2008
TL;DR: In this article, the authors discuss the role of payment systems in the economy and the structure and economics of the payment system, and present a broad overview of the current payment system landscape.
Abstract: Introduction PART I: THE STRUCTURE AND ECONOMICS OF PAYMENT SYSTEMS Chapter 1: The Architecture of Payment Systems Introduction and Basic Concepts Participants in a Payment System Payment Operations Standards Efficiency Criteria for Payment Systems Chapter 2: Payment Instruments Characteristics of Payment Instruments Cash Cheques Credit Transfers Direct Debits Cards Payment Channels Statistics and Comparative Trends Chapter 3: Cross-currency Payments and SWIFT Correspondent Banking The SWIFT Network The Correspondent Banking and Clearing Business Remittances Chapter 4: Risks in Payment Systems, Oversight and Security Analysis of Risks in Payment Systems Risk Management Regulatory Oversight Fraud Prevention and Security Chapter 5: The Role of Payment Systems in the Economy The Economic Role of Payment Systems Payment Systems and Money Velocity Network Economics Part II: OVERVIEW OF CURRENT PAYMENT SYSTEMS Chapter 6: European Payments and SEPA SEPA The Payment Services Directive (PSD) The TARGET2 RTGS System Clearing and Settlement Mechanisms The EBA Payment Systems The SEPA Schemes and Frameworks Business and Operational Impact of SEPA UK Payment Systems Chapter 7: The US Payment Systems Fedwire The National Settlement System CHIPS The ACH Network Cheques Cards Trends Overview of the US Securities Clearing and Settlement Systems Chapter 8: Major Asian Payment Systems Payment and Securities Settlement Systems in Japan Payment and Securities Settlement Systems in China and Hong Kong SAR Chapter 9: New Entrants Remittance Service Providers Non-bank Issued Credit Cards Transport Cards Mobile Phones and Mobile Payments Paypal Earthport Part III: THE SETTLEMENT OF TRADING ACTIVITIES Chapter 10: The Settlement of Foreign Exchange Trades and CLS The Settlement of Foreign Exchange Trades and Settlement Risk CLS Chapter 11: Securities Settlement Securities Clearing and Settlement Risks in Securities Settlement Systems Settlement Risk Management Consolidation of Exchanges and the Clearing and Settlement Landscape TARGET2 Securities Part IV: WHOLESALE PAYMENTS, CASH MANAGEMENT AND TRADE FACILITATION SERVICES Chapter 12: The Requirements of Corporations The Role of the Treasury Department Electronic Invoicing Supply Chain Finance (SCF) Chapter 13: Corporate Banking Services Electronic Banking and Communication Channels Reporting, Cash Management and Treasury Services Fees and Remuneration Selection Criteria Part V: BANKS AND THE PAYMENTS BUSINESS Chapter 14: The Banks' Back Offices Payment Processing and STP Departments Involved Operations IT Systems Chapter 15: Payments as a Business for Banks Payments within Banks' Overall Strategy The Economics and Profitability of Payment Services Organisation and Governance Development of an Enterprise-wide Payments Strategy Part VI: THE FUTURE Chapter 16: Where is the Payments Business Going? Instruments Payment Systems Architectures, Schemes, Standards and Operators Risk and Fraud Management Governance and Oversight Settlement of Financial Markets Trading Regional Developments Corporate Banking New Entrants Operations Revenue Shifts and Reduction Conclusion Appendix 1: Comparison between Large-value Payment Systems Commonly Used Abbreviations and Acronyms Glossary Bibliography and Useful Websites References Index
23 citations
Related Topics (5)
Performance Metrics
| Year | Papers |
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| 2017 | 1 |
| 2015 | 1 |
| 2014 | 2 |
| 2013 | 2 |
| 2011 | 1 |
| 2009 | 1 |