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Chapter 7: Payment Systems - Coggle Diagram
Chapter 7: Payment Systems
Payment systems in Malaysia
SIPS/LVPS
RETAIL PAYMENT SYSTEMS (RPS)
Retail Payment Systems
eSpick, Shared ATM Network (SAN), InterBank GIRO, Direct Debit, Financial Process Exchange (FPX)
Retail Payment Instruments
Cheques, Credit Card, Charged cards, Debit cards, e-money
e-Money used in Mobile wallets, P2P mobile payments
Retail Payment Channels
Internet banking, Mobile Banking, Mobile payment
RTPS - REAL TIME PAYMENT SYSTEM
3 Benefits to REGULATORS
Financial inclusions
Adherence to mandates
Control high inflation rates
3 Benefits to CONSUMERS
Instant confirmation
Proximity person-to-person payment
Availability of fund
3 Benefits to MERCHANTS
Card is expensive
Ability to support more payment information
Availability of fund
Improve economy
FinTech evolution in Payment
Mobile Wallets
P2P Mobile payments
Merchant's Point-of-sales (POS)
Data Monetization