Glossary

Payment system - aggregate of procedures or connected with them computer networks and software used for financial transactions and settlement payments between the participants of the system which are realized with using plastic cards, e-money and cash.

Electronic payment system - the system of non-cash transactions, placement of contracts and money transfers between sellers and purchasers, banks and their clients, with the help of means of electronic communications using information encoding and its automatic processing.

Internet-payments - settlements between the members of Internet-business (users, Internet-stores, business organizations, financial organizations) buying or selling goods and services in the Internet.

E-money - the means of payment presented and circulated in electronic form, remained deposited in the form of records in specialized systems of electronic payments and are at disposal of a buyer.

Digital money - electronic analog of money in cash emitted by any organization. It has certain face amount, individual features (lot, number, etc.) and anti-counterfeit feature by their endorsement in the form of digital signature of issuer. It remains in encrypted form.

Payment platform - the system of collection, processing and transmission of financial information, and direct execution of payments. It unites payment systems and participants of online trade.