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:
Of such systems, largevalue funds transfersystems are usually distinguished from retail funds transfersystems that handle a large volume of payments of relatively low value in such forms as cheques, giro credit transfers, automated clearing house transactions and electronic funds transfers at the point of sale.
In principle, the payment messages may be credit transfers or debit transfers, although in practice virtually all modern largevalue funds transfersystems are credit transfersystems in which both payment messages and funds move from the bank of the payer (the sending bank) to the bank of the payee (the receiving bank).
Systems can in principle be grouped into two types, designatedtime (or deferred) settlement systems and realtime (or continuous) settlement systems, depending on whether they settle at prespecified points in time or on a continuous basis.
Systems have been developed and are presently in commercial use for the transfer of funds from one meter being taken out of service to another meter being placed in service.
Communication between the central station and the mail sender allows postage value to be transferred to and from the user by the central station and mailing and verification data to be sent to the central station from the mail sender.
Upon transfer of funds, a selected amount of postage value residing in the NVM 26 of the server 25 is transferred from the NVM 60 of the card 50 so that the ascending and descending registers to the NVM 60 may be refreshed.
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