- Value transfer system
A value transfer system refers to any system, mechanism, or network of people that receives
money for the purpose of making the funds or an equivalent value payable to a third party in another geographic location, whether or not in the same form.A value transfer system may fall into one or more of these groups:
*Informal value transfer system s, e.g.hawala .*Retail value transfer systems:
**Traditional retail value transfer systems, e.g.Western Union . (Also,bank s andpost office s usually support various forms of transferring funds.)
**Internet -only value transfer systems, e.g.PayPal , orElectronic money .
**Combined Retail/Internet value transfer systems, e.g. cash at retail in exchange for electronic money such asPaidByCash .*Institutional formal value transfer systems, e.g.
SWIFT (International),LVTS (Canada),Fedwire (USA).External links
*http://www.systemics.com/docs/papers/monpol.html 1996 paper: The Effect of Internet Value Transfer
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