Payment systems electronic transfers

All rights reserved under International and Pan-American Copyright Conventions. By payment of the required fees, you have been granted the non-exclusive, non-transferable right to access and read the text of this e-book on-screen. No part of this text may be reproduced, transmitted, down-loaded, decompiled, reverse engineered, or stored in or introduced into any information storage and retrieval system, in any form or by any means, whether electronic or mechanical, now known or hereinafter invented, without the express written permission of HarperCollins e-books. 

The basic concept of the CGO within CREST remains the same—that is, the provision of secure settlement for gilt-edged securities through an efficient and reliable system of electronic book-entry transfers in real time against an assured payment. The CGO is a real-time, communication-based system. Settlement on the specified business day (T + 1 for normal gilt trades) is dependent on the matching by CGO of correctly input and authenticated instructions by both of the parties and the successful completion of presettlement checks on the parties stock account balances and credit headroom. 

Payment Centers. Service point pay stations set up by government agencies or contracted out to private agencies are an attempt to reduce beneficiaries travel costs. In this situation, government or program officials or contractors distribute transfers using simple paper and pencil recording systems or electronic devices such as POS machines or cell phones. 

---