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The role of a bank in payment systems.


Question

The role of a bank in payment systems.

Answer

Bank is a financial entity regulated by a central bank of a county that manages funds of third parties, shareholders and customers. Banks play the most important role in all payment methods and without its participation money processing services could never be offered to online businesses. 

The types of banks used the most by businesses:

  • Acquiring banks
  • Commercial banks
  • Investment bank
  • Mortgage banks
  • Consumer banks for credit or debit cards


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