Infographic: A Guide to Core Payment Types Topic3

The World of Electronic Payments: A Deep Dive The World of Electronic Payments From massive corporate buyouts to daily coffee runs, electronic payments…

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Chanel and connectivity in payment

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Infographic: Payment Channels & Connectivity

Channels & Connectivity in Payments

An overview of how individuals and corporations connect with payment service providers (PSPs) to move money.

How Consumers Connect

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Online & Mobile Banking

Web and app-based platforms allowing users to initiate payments and view account info 24/7. Mobile banking relies on cellular/Wi-Fi, while online is broader browser access.

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Mobile Wallets & Apps

Applications for making payments via a mobile device. Often offered by banks, e-money institutions, and BigTech companies like Apple and Google, leveraging their large user bases.

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Peer-to-Peer (P2P) Payments

Services that allow individuals to send money to each other directly, often using mobile numbers or email. Examples include Zelle, PayNow, and Venmo.

How Large Organizations Connect

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Host-to-Host Connectivity

A direct, automated connection between a company's internal system (like an ERP) and its bank. This bypasses manual data entry for high-volume payments.

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SWIFT for Corporates

Uses the global SWIFT network for a standardized, single channel to connect with multiple banking partners worldwide, simplifying international operations.

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SWIFT gpi

The "Global Payments Innovation" improves cross-border payments by providing faster speeds, fee transparency, and end-to-end payment tracking.

Key Systems & Infrastructure

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Enterprise Resource Planning (ERP)

Integrates an entire organization's processes—from sales and HR to finance—into a single system. It automates information flow, and payment files can be generated directly from it.

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Treasury Management System (TMS)

A specialized software application that helps companies manage their cash, investments, and financial risks in a highly automated manner. It acts as a central database for all treasury data.

Traditional Channels

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Branch Banking

Face-to-face service. While less efficient, it remains important for relationship building and financial inclusion.

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ATMs

Automated machines for cash withdrawal and simple transactions. Usage is declining as cash transactions fall.

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Telephone Banking

Allows customers to give payment instructions over the phone to a service representative.

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