Introduction to the National Payments System
Categories : Regulation and Payment System Governance, Regulation of Digital Financial Services
Author: David Porteous
The National Payments System (NPS) controls how participants at all levels — from the person on the street to banks, governments and international participants — exchange value within an economy and across national borders.
In practice, the NPS is the framework of laws, regulations, systems, mechanisms, procedures and agreements (commercial, process and risk management) that governs payments. It covers the entire payment process and all participants.
Read more about the NPS and why it matters here.